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Koenigsegg signs deal to buy all of Saab

By Tim Pollard Motor Industry 18 August 2009 10:17 Supercar maker and industrial group Koenigsegg today announced it had signed the deal to buy every one of GM's shares in Saab. The news clears the way for Saab's rebirth as an independent car maker freed from the shackles of General Motors and follows an earlier memorandum of understanding. Koenigsegg has signed the stock purchase agreement to buy 100% of Saab – but there are still numerous hurdles before the deal completes 'in the next few months.' Exactly.

Nissan backs radical DeltaWing racecar program

Nissan has announced its involvement in a radical new motorsport project, dubbed the DeltaWing, which will race at the Le Mans 24 Hours this summer using Nissan power. The car is the work of Ben Bowlby who originally designed the car as a proposal for the 2012 IndyCar racer, which has since found the attention of Nissan after its rejection by the American race championship. The headlines of the design are that it's half the weight and has half the aerodynamic drag of a conventional racer and is therefore far more efficient.

Citroen DS Wild Rubis tease previews new DS SUV (video)

Citroen are teasing what appears to be a DS SUV ahead of the Shanghai Motor Show later in April – the Citroen Wild Rubis Concept. With French car makers suffering from a downturn in sales in recent years, one beacon of light has been the success of the resurrected DS badge to adorn a range of more upmarket Citroens. From initial scepticism when Citroen revealed their plans to re-badge and titivate mainstream Citroens with some DS history, we were won over by the brilliant DS3 which managed to turn the rather beige C3 in to a properly appealing – and properly fun – sporty hatch.