Mercedes-Benz's First China-Made GLK Rolls Off the Production Line

Following a June 2011 agreement between Daimler and Chinese joint venture partner BAIC to further expand their collaboration in China with additional projects, Mercedes-Benz announced on Monday that the first locally produced GLK SUV left the production line at the Beijing plant of Beijing Benz Automotive Co. (BBAC). Read more »

Saab in Talks with Youngman and Chinese Bank to Secure November Wages

It’s been almost a week now since we last heard from Saab and as time goes by without a viable solution, the situation for the Swedish carmaker becomes more critical every day.

On Monday, Saab owner Swedish Automobile (SWAN.AS) announced that it is currently in discussions with Youngman Automobile and an unnamed bank in China about a potential investment in Saab.

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China's Geely to Enter UK Market in 2012 with £10,000 Emgrand EC7

Only a week after Geely's Emgrand EC7 became the first Chinese vehicle to receive a respectable four out of five star safety rating under the Euro NCAP crash tests, and the owner of Volvo Cars announced that it is getting ready to enter the UK’s new car market with the first models to arrive at the end of 2012. Read more »

Saab Presents New Restructuring Plan to its Creditors

On Monday, Swedish Automobile presented the restructuring plan of Saab Automobile to the company's creditors at a preliminary meeting in Vanersborg, Sweden.

Saab’s management informed the creditors about the key points of the reorganization process, which has the support both of the administrators who are overseeing the process as well as future owners Pang Da and Youngman.

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China's Pang Da and Youngman Agree to Buy Saab for €100 million and Save it from Bankruptcy

Saab's parent company Swedish Automobile N.V. [Swan] said on Friday that it has agreed to sell the company to China's Pang Da and Youngman.

If the deal goes through, the Chinese will own Sweden’s car industry bar Koenigsegg as Volvo was sold to Geely in 2009 – admittedly at the much higher price of US$2 billion dollars than the €100 million (US$141.7 million) Pang Da and Youngman are willing to pay for acquiring 100% of Saab Automobile and Saab GB shares.

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