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GM Challenges Chinese Acquisition Of Saab
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Saab‘s matchmaking saga is the stuff of cinema. Facing compounding financial dilemmas and a series of unsuccessful talks with a number of investors, the troubled Swedish automaker had little going for it. Just as Saab was close to finally making a deal with its Chinese investors, Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus…
Volvo Launches FH16 750 Game for Smartphones and Tablets [Video]
Take the brand new Volvo FH16 out for a spin… but be careful of obstacles. That’s the idea behind Volvo Trucks’ new game for smartphones and tablets. Released to coincide with the 25th anniversary of Volvo’s flagship truck, FH16 750 is an exciting and entertaining game that tests your lighting fast reflexes. The object of…
Peter Horbury Will Lead Design For Geely
A few years ago, a Chinese car company by the name Geely bought the Swedish luxury car brand Volvo. As part of Geely’s plan to move the Volvo brand forward, they hired famed car designer Peter Horbury to look after the design direction of this luxury car brand. Horbury, who hails from Britain, was no…
Chinese Buyers Pledge $850M in Long Term Saab Funding
After much back and forth over the past months between Swedish Automaker Saab and Chinese suitors Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co., it seems like funding for Saab is very much back. The Chinese companies have both agreed to buy the Swedish automaker, providing the company with some much needed…
New Saab 9-3 Photo Leaked?
Now that Da Pang and Youngman have agreed to buy the Swedish Automaker, lock stock and barrel (for a price of 100 million euros/$142 million), Saab can now get on with what it does best, namely making quirky cars.
Volvo S60, C70 Recalled Over Incorrect Tire Pressure Labels
Swedish car firm Volvo takes safety very seriously, and so it’s taking the extra step to correct a small error it had made in the past. The issue is in regards to the tire pressure label for the spare tire. According to the National Highway Traffic Safety Administration (NHTSA), some Volvo vehicles had incorrect information…
Saab Production May Restart In 8 Weeks
According to Inside Line, Saab may be ready to re-start production at its factories in as little as 8 weeks, after being sold to two Chinese automakers for $142 million. While Saab was valued at $660 million this summer, both Pang Da and Zhejiang Youngman Lotus Automobile Co. managed to purchase the company at a rock…
Win a Volvo S60 R-Design in the “Journey to the Wedding” Twilight Saga Sweepstakes
Volvo and the Twilight Saga are inviting fans to join “Journey to the Wedding,” an online promotion created in conjunction to the upcoming release of The Twilight Saga: Breaking Dawn, in theaters November 18th. Participants of the “Journey to the Wedding” online game could win a trip to visit the locale of Edward and Bella’s…
CEO Victor Muller Refuses Saab Takeover By Chinese Automakers
According to Saab CEO, Victor Muller, a takeover offer of the Swedish brand by China’s Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. has been turned down. Although initial talks were intended to aid Saab in raising capital, Muller explains during a Reuters interview, “The token offer was unacceptable because it would…
Saab To Get $70 Million Lifeline From Private Equity Firm
U.S. private equity firm North Street Capital will give Saab a $70 million investment, including an equity stake worth $10 million and a $60 million loan to the ailing car maker. With Chinese-backed financing looking increasingly unlikely, the investment from North Street Capital, a firm run by auto enthusiast Alex Mascioli, will give Saab the…
Saab Administrator In Charge Of Bankruptcy Proceedings Wants Out
The administrator in charge of the Saab bankruptcy proceedings has told a Swedish court that the process must stop. “The money is not enough to continue the reorganization,”said Guy Lofalk in an interview with Reuters. “Now, an application [to terminate the reorganization] has been mailed. It should be on the court’s desk tomorrow.” Lofalk said…
Volvo V60 Plug-In Hybrid Coming In 2012
Not so long ago, Volvo had announced that it was working on a plug-in hybrid version of their V60 wagon. Now according to Volvo, the V60 may be out by as early as next year. Volvo said it is working on two variants, a gas-electric plug-in hybrid for North America, and a diesel-electric plug-in hybrid…
Saab Confirms Loan from China’s Youngman
Narrowly escaping bankruptcy and liquidation for the 17th time (ok, maybe that’s an exaggeration), Saab has confirmed receipt of a 70 million Euro payment from Chinese investor and automaker Zhejiang Youngman Lotus Automobile Co. Far from a magic wand that will make all of Saab’s troubles go away, the automaker continues to operate in its…
Saab 9-5 Is Singapore’s Car Of The Year
The tiny island nation of Singapore is best known for its laws banning chewing gum and instituting corporal punishment against criminals, and apparently, a big lover of the Saab 9-5. The obscure Swedish sedan was named “Car of the Year” by a local publication called “Consumer Guide”, according to Saab’s PR department. Car taxes in…
Volvo C70 To End Production At Dedicated Plant
Volvo Cars plan to discontinue production of the Volvo C70 convertible at the Pininfarina Sverige AB plant of Uddevalla, Sweden, by 2013. Established as a joint venture between Italian design house Pininfarina and the Swedish Automaker since 2005, the plant is responsible of building only the C70 model and employs 600 workers for the task. Volvo…
Saab 9-3 eAWD Demo Vehicle to be Showcased at SAE All-Wheel Drive Symposium
At this week’s SEA All-Wheel Drive Symposium in Bloomfield Hills, Michigan, OEM supplier BorgWarner will show off its next generation of AWD systems including a new hybrid-electric setup. The system, known as eAWD, will be fitted to a Saab 9-3 and BorgWarner claims it will offer, “superior stability and traction with lower emissions and up…
Spyker Bought By American Private Equity Firm
U.S. private equity firm North Street Capital, has purchased Spyker, after a deal to sell the Dutch outfit to Russian investors fell through. The Financial Times reported the news after viewing a preliminary draft of the announcement. It’s unclear how the Spyker sale will impact parent company Swedish Automobile, and its attempts to restructure Saab,…
Saab To Reach Deal With Chinese Investors By End Of this Year
After more than a year of struggle under Spyker’s management, many thought Saab would have succumbed to its financial woes already, yet somehow the Swedish automaker has been able to pull a few tricks out its bag just as it would seem that its luck had run out. The latest reports indicate that Saab’s two…
Swedish Authorities Seize Saab Museum Collection
Saab‘s museum collection of historically significant vehicles was seized by Swedish authorities from the company’s museum. The Swedish Enforcement Office took possession of the museum and other contents, including 13 exhibits, 22 engines and six workshop tools. Saab is said to owe parts suppliers more than $31 million in overdue payments, and the Swedish government…
Heico Sportiv Launches Volvo V60 Tuning Program
Heico Sportiv has been Volvo‘s official partner for vehicle individualization since 2008, and their newest creation is their take on Volvo’s V60 wagon. Heico is well known to add sportiness to Volvo’s creations, often times transforming Volvos in a way very few can in a classy and subtle fashion. Their V60 tuning program transforms the…
Saab Granted Court Protection From Creditors
The Saab soap-opera continues, but this week the news is good. Saab just won a court appeal to protect it from creditors while it awaits funding from its Chinese investors. Earlier this year, two Chinese companies, Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. agreed to buy shares in Saab, totaling $334-million….
Volvo to Phase Out 5-Cylinder, 6-Cylinder Engines
There was a time, some 35-odd years ago, when the only engines found under the hood of a Volvo were four-cylinder units. Some were naturally aspirated, and some were boosted via a turbo-charger. However, due to the demands and pressures from customers and share holders, Volvo started producing five-cylinder, six-cylinder engines. They even got Yamaha…
Volvo Concept You Has a Very Chinese Feel: Frankfurt Auto Show 2011
There’s something really Chinese about the Volvo Concept You but I just can’t quite put my finger on it. And I’m actually Chinese. That there is an oriental feel shouldn’t be a surprise. The Concept You is an evolution of the Concept Universe revealed earlier this year at Auto Shanghai earlier this year. Volvo sought…
Volvo Owner Geely Insterested in Saab
Saab‘s days as an automaker might not yet be numbered. According to a recent report a Chinese automaker may be interested in purchasing the bankrupt automaker. “I’ve heard this one before,” you’re probably thinking to yourself. But this time it’s different…. we promise. According to Sweden’s Dagens Industry, the interested Chinese suitor is none other…
