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Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED
Mon, 31 Oct 2011Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.
Lamborghini Super Trofeo race car reset for street duty
Sun, 26 Sep 2010Lamborghini has taken the version of the Gallardo it builds for the single-make Super Trofeo racing series and re-engineered it for street duty to create the Gallardo LP 570-4 Blancpain Edition. The 5.2-liter V10 in the road-going car pumps out 570 hp, the same as the race car. It also gets the race car's tall rear wing, rear engine cover, composite ceramic brake discs and extensive use of carbon fiber.
VW Pickup concept (2008): first official photos
Wed, 24 Sep 2008By Chris Chilton First Official Pictures 24 September 2008 18:00 He’s designed Alfa Romeos, Audis and even a Lamborghini but now Walter de'Silva has gone all humanitarian and designed a pick-up. VW’s first small flatbed since the Mk1 Golf-based Caddy will take on trucks like the Toyota Hilux and Mitusbishi L200 when it goes on sale late in 2009. It is, but not for long. This thinly veiled concept, called simply Pickup Concept, has been designed as a search and rescue vehicle for coastguards but essentially this is what badge-conscious UK builders will be driving in 2009. The new Volkswagen corporate face with its monobrow top grille and wide mouth is likely to be carried over mostly unchanged to the cars that will roll off the South African production line, as will the surprisingly stylish interior which features hooded instruments and Audi TT-style air vents. Mechanical details are sketchy but Volkswagen claims that engines will be common-rail diesels which rules out the old-tech 2.5 five pot that powers many of VW’s current commercials.