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Peugeot-Citroen signs £1.3bn rescue deal

French car manufacturing giant PSA Peugeot-Citroen has signed a £1.32 billion deal with Chinese carmaker Dongfeng Motors and the French government to secure its future. The far-eastern firm and the French government will each invest €800 million (around £660 million). Both organisations will receive a 14% stake in the business.

Record Breaker Aiming High With Audi

NOT content with falling out of a balloon from a great height, Austrian extreme athlete Felix Baumgartner is tackling his next big challenge on the famous Nordschleife circuit of the Nurburgring in Germany. Teaming up with Audi, the Austrian will obtain a racing license and become a driver with the Audi race experience team for the grueling Nurburgring 24 Hours in June. He’ll also be swapping his recording-breaking balloon for a race-prepared Audi R8.

Saab's future could be bright

Saab is planning a return to its old-brand values with an extended model range as it prepares for a new, independent future owned by a joint U.S.-Scandinavian investment team. Swedish supercar maker Koenigsegg grabbed headlines as the buyer from General Motors, but Koenigsegg is just one of at least three major investors. The others are West Coast entrepreneur Mark Bishop and Norwegian holding company Eker Group.