Swedish Office and GM Allow Antonov to Invest in Saab

It appears that Saab's hopes of survival continue to depend after all that happened on Vladimir Antonov, the Russian banker who was forced by GM to sell his initial shares in Spyker for the Saab sale to occur. Spyker today confirmed that the Swedish National Debt Office (NDO) allowed Antonov to become a major shareholder in Spyker Cars, Saab's parent company.

"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.

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Seat Start Production of Audi Q3 in 2012

It seems that the VW Group’s Martorell plant in Spain will not only build the new Audi Q3, but a similar version of the compact SUV for Seat as well, according to a report from British car magazine, What Car. Industry sources told the publication that the Seat IBX crossover study shown at Geneva this year will be built in the same plant with the Audi Q3, with both models to share the same platform. The production version of the IBX is expected to be introduced next year.

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.

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2012 Lamborghini Aventador LP 700-4 [ VIDEO ]

Whether you’re a diehard Lamborghini fan or just get excited about exotic supercars in general, you’ll find that the new Aventador LP 700-4 is one of those vehicles that turns heads and accelerates heartbeats faster than lightning. Just in case you can’t get enough of the 700-horsepower Lambo, you might want to click over the jump to watch the latest video release from the Sant’Agata Bolognese-based automaker.

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

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Tesla Losses Soar to $154.3 million in 2010

Tesla Motors has just released a preliminary, unaudited financial report concerning the year than ended on Dec. 31, 2010. The company reported losses of US$51.4 million in Q4 2010 and US$154.3 million for 2010, which was almost triple the US$55.74 million loss for the year ending Dec. 31, 2009.
The EV automaker's revenue, however, rose approximately 5 percent in 2010 to $116.7 million. Revenues for the fourth quarter of 2010 were US$36.3 million, a 16% increase from the US$31.2 million reported in the prior quarter. Tesla added that gross margin improved to 26% for the full year 2010, up from 9% for 2009.
The company 's future plans include the launch of the Model S, which is scheduled to go on sale in the middle of next year. Scroll down to read Tesla CEO Elon Musk's statement.

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New Smart ForSpeed Concept

At next week's Geneva Motor Show, Smart will reveal a new concept model called the ForSpeed that signals a new design direction and hints at future products from Daimler's small car brand. The ForSpeed is a zero-emissions roadster model with a unique look that is powered by an electric motor.

In a similar fashion to Smart's 2001 Crossblade that was produced in a limited run of 2,000 units, the ForSpeed has no roof or side windows and it features a low wind deflector instead of a windscreen. However, unlike the Crossblade, the ForSpeed does get a pair of doors as well a fabric tonneau cover for weather protection.
While Smart has no immediate plans to produce the ForSpeed, key styling elements such as the headlamp and tail lamp designs with the outer rings illuminated by a LEDs as well as the more prominent front grille, will be carried over to future products including the next ForTwo series and the new five-door ForFour as the company plans to create a more distinct look for its cars to better compete with the Fiat 500 and the Mini.
On the inside, Smart's designers opted for a minimalistic look with separate round turbine-like instrument clusters for the driver and passenger. Whilst the driver gets a speedometer, the passenger's side features a smartphone that can be swiveled by up to 90 degrees in its holder and towards the driver so that the driver can also take a look at the display, which include a navigation system.
The open two-seater is motivated by a 40HP / 30kW electric motor installed at the rear. A button in the centre console activates a boost function which provides an extra 7HP /5 kW of power for a short time.
The electric motor is fed by a 16.5 kWh lithium-ion battery that can be charged at any conventional 220 Volt socket. The charging device is located in the third brake light behind the Smart logo. According to Smart, quick charging from 0 to 80 percent takes 45 minutes, while a fully charged battery offers a driving range of 84 miles or 134 kilometers
The ForSpeed concept accelerates from 0 to 37 mph (60 km/h) in 5.5 seconds and reaches a top speed of 75 mph or 120 km/h.
We'll bring you more photos and details on the ForSpeed from the Geneva Show floors next week. 
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