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Former Saab executives arrested in accounting-fraud probe

Three former Saab executives, including former CEO Jan-Aake Jonsson, were arrested Monday on suspicion of “grave attempts to complicate tax controls” during 2010 and 2011, according to a report from Bloomberg. The Swedish Economic Crime Authority's chief prosecutor, Olof Sahlgren, declined to give the names of the arrested, but Bloomberg confirmed in court documents that Jonsson, former chief financial officer Karl-Gustav Lindstroem and formal general counsel Kristina Geers were detained. “It's about accounting measures to complicate the control operations of the tax authority regarding the calculation of taxes and fees,” Sahlgren told Bloomberg.

GM disbands unit that creates high-performance vehicles

General Motors, focusing on mainstream products in a battle to survive, has scrapped a unit that produced high-performance vehicles. GM on Wednesday disbanded High Performance Vehicle Operations, which is based at the company's suburban Detroit technical center, and redeployed its engineers, spokesman Vince Muniga said. "All high-performance projects are on indefinite hold," Muniga said.

Lexus IS Design contest winner to be built for SEMA 2013

Somewhere in the shortlist of 25 semi-finalists from the Lexus IS Design contest lurks the design that will be built by tuner VIP Auto Salon and take pride of place on Lexus' stand at SEMA later this year. Hosted by online art community deviantART, the competition asked entrants to customize a Lexus IS saloon using any method they liked. The winner will also be given a one-year lease of the IS and other prizes.