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Chinese bank may join Saab rescue deal

Saab's owner, Swedish Automobile, said on Monday it is discussions with a bank in China and Chinese automaker Zhejiang Youngman Lotus Automobile over a rescue deal for Saab. Reports had said on Sunday that the Bank of China would replace China's Pang Da as an investor in Saab, which is under bankruptcy protection. Swedish Automobile confirmed Monday that it is talking with Youngman and a bank in China about an equity interest, but did not name the bank.

New high-performance VW Golf R Evo and Polo R under consideration

It has not been two minutes since the Volkswagen Golf R was unveiled, but that hasn’t stopped an even more hardcore Golf R Evo concept being mooted – the more focused prototype could make its debut at the 2014 Beijing Motor Show in April. It’s not the only go-faster Volkswagen that’s under consideration, either. Linking in with its assault on the World Rally Championship, VW is also analysing a potential 250hp, four-wheel-drive Polo R variant.

Spyker warns that Saab's future is 'uncertain' without fresh funds

Spyker Cars NV, the Dutch parent of Saab, said the Swedish automaker's financial situation is worsening and warned that Saab's future is at risk without additional financing. In its annual report released today, Spyker said the company's "continuity" could become uncertain unless it secures extra funds to finance ongoing operations and the execution of its business plan. Earlier this week, Saab was forced to shut down production for short intervals after key suppliers halted parts deliveries for non-payment.