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Showing posts with label cars news. Show all posts
Showing posts with label cars news. Show all posts
Friday, April 29, 2011
"This is a great day for our company and for me personally. We worked relentlessly for 11 months to achieve the desired result: restore the reputation of Vladimir Antonov, who made so many valuable contributions to Spyker since 2007 as financier and shareholder,” said Victor Muller, CEO of Spyker and chairman of Saab Automobile.
“We are convinced he will be able to make such contributions again in the near future and look forward to the decisions of the Swedish Government, General Motors and the European Investment Bank (EIB), following the recommendation of the NDO which was the result of intense scrutinising,” Muller added.
General Motors, which has redeemable preference shares in Saab, also gave the green light to Antonov.
“GM continues to be in active discussions with both Saab and the European Investment Bank and has reached a tentative agreement with Saab on a construct which could allow for Vladimir Antonov's acquisition of a shareholder interest in Saab,” the Detroit automaker said in a press statement.
The American company stressed, however, that the agreement requires “certain specific actions to be taken by Saab which have not yet been completed, as well as certain formal consents, approvals and waivers which Saab has not yet obtained.”
Antonov still needs the green light from the Swedish government and the European Investment Bank (EIB) to return as a Spyker shareholder. Saab halted production three weeks ago because it had no money to pay suppliers and announced it will sell production facilities to Antonov and lease them back in order to get cash to restart production.
However, the deal must receive the approval of the EIB, to which Saab owes €400 million.
“Spyker and Saab Automobile are negotiating equity and debt financing and/or technology licensing with various strategic partners, including various Chinese car manufacturers. No commitments have been received to date,” Saab said in a statement.
GALLERY
Read more In Cars
The IBX is Seat's second SUV concept after the Tribu shown at the Frankfurt Motor Show in 2007. The Tribu was initially supposed to spawn a production model but the project was canned due to the grim economic outlook at the time.
Now a Seat SUV is closer than ever to reality, even though the production version could differ from the three-door IBX design study. The series production model could feature a more conventional five-door bodywork and internal combustion engines, as opposed to the concept's full-electric setup. The IBX study uses an electric motor to power the front wheels and a battery package that offers a driving range of 45 kilometers (28 miles).
The road-going model is expected to adopt a variety of TSI and TDI engines offering buyers the choice of front-wheel or all-wheel drive. At 4.26 meters long, 1.80 meters wide and 1.62 meters tall, the IBX is very close in dimensions to the Audi Q3, which measures 4.39 meters in length, 1.83 meters in width and 1.60 meters in height.
GALLERY
Read more In Cars
Tuesday, April 26, 2011
The two-minute long promotional film shows the Aventador LP 700-4 in an apocalyptic-like scene scrambling to get away as the earth crumbles under its tires. To be honest, it’s a bit too much on the fantasy side for our tastes, but we’ll let you be the judge of that.
VIDEO
GALLERY
Saturday, April 23, 2011
In addition, the 2011 Prius will be a virtual rerun of the 2010 Toyota Prius. It’ll retain its 50-plus-mpg rating and innovative options such as a solar-powered ventilation system. The 2011 Prius represents the third-generation version of the world’s most recognizable hybrid. Following a best-selling hybrid by far. Its ahead of its time in my book.
Note: The batteries last about 10 years (or I think about 80,000 to 100,000 miles not really sure on miles) and it costs around $8,000 to $10,000 to replace one. This is the most expensive thing to replace in these cars. However, if you think about it you will most likely not be keeping the car for that long with all the advances they are making. Therefore, you will most likely not ever replace the batteries.
GALLERY
Read more In Cars
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