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Saab: China’s Youngman submits new $2 billion offer

Youngman is committed to acquiring Saab The founder of China’s Youngman - Pang Qingnian – has revealed Youngman submitted a $2 billion offer to buy Saab from the administrators on 14th February. We’ve all seemingly written-off Saab as dead and buried; a once proud marque consigned to the scrap heap of history after the debacle of GM ownership and Victor Muller’s ill-fated battle to make Saab an in dependent marque. But there’s one man who hasn’t given up hope of securing a future for Saab, and that man is the Chinese billionaire founder of Youngman, the company which has already spent significant sums trying to acquire Saab, but has so far been thwarted by GM’s golden bullet.

Transition flying car completes first public flight

Think of a flying car and - depending on your age - you may think of Chitty Chitty Bang Bang or the Ford Anglia from the Harry Potter novels. But whatever, it's the stuff of fantasy, surely? The kind of machine that featured in those 'glimpses of the future' movies of the 1950s.

Mazda to recall more than 500,000 vehicles

Mazda plans to recall about 514,000 vehicles to repair power-steering systems that fail suddenly. The recall will affect the Mazda 3 and the Mazda 5 manufactured in Japan from 2007 to 2008, according to a report in Reuters. Currently, Mazda has filed recalls for 215,000 vehicles in the United States and more than 10,000 in China.