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News watch May 2010: today's auto industry news

By Tim Pollard and Ben Pulman Motor Industry 28 May 2009 15:00 Welcome to CAR's news aggregator as we round up the daily stories in the auto industry. Top tip: news summaries are added from the top hour-by-hourFriday 28 May 2010• Gordon Murray Design has announced specification and performance targetsfor the electric T.27 city car. The company is working with Zytek, and the projected emissions figures are 48g/km on the combined cycle, with the full lifecycle CO2 impact of the T.27 being 42% less than the average UK car.

Saab secures investment from China et al

China's Hawtai Automotive invest €150 million in Saab As you can’t have failed to notice, Saab has stopped production because it’s run out of money. And despite the best efforts of Vladimir Antonov to throw money at Saab, the EIB and the Swedish Debt Office seemed unwilling to move quickly to allow Saab to get back in to production. But things they are a-changing.

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.