General Motors confirmed Tuesday morning that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive.
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Autoliv says it has developed a new high performance reversible pre-pretensioner system for seatbelts that resets itself automatically after triggering, enhancing safety in multiple impact collisions.
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Michelin could cut up to 1,500 jobs in France, according to a report in Le Monde.
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The US Bankruptcy Court in Delaware has authorised Hayes Lemmerz International, which filed for Chapter 11 bankruptcy protection last month, to obtain post petition secured financing of up to US$100m of new liquidity to fund operations.
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Nissan Motor and Toyota are again employing short-term factory workers in Europe to boost their small car output, the Nikkei business daily reported on Tuesday.
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Automakers can achieve 2016 U.S. fuel-economy rules, but environmental progress beyond that will take cooperation between the government, industry and others, Ford Executive Chairman Bill Ford said.
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A top union official at Hyundai Motor has said he will resign over what is believed to be a dispute with other unionists over changes in the shift system and working hours.
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Chrysler Group has built its first vehicles since the automaker filed for bankruptcy on 30 April.
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Data released by the European vehicle makers' association ACEA shows that the car market in Europe was down just 4.9% year-on-year in May.
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General Motors' former global purchasing boss, Bo Andersson, who quit GM abruptly last Friday, the first senior executive to leave since the company filed for bankruptcy protection, will become chairman of GAZ, the carmaker owned by Russian billionaire Oleg Deripaska.
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Buyers of million-dollar supercars made by Koenigsegg, which has agreed to buy General Motors' Saab brand, often take private jets to the Swedish automaker's headquarters -- a former home for Saab Gripens planes.
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Koenigsegg Automotive, General Motors' first choice to buy Saab, makes million-dollar sports cars that some car enthusiasts call the "world's fastest," says an executive at one of the specialty Swedish automaker's three licensed U.S. stores.
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Work on Renault's new factory in Tangier, Morocco, will start in September with the first cars due to be produced from January 2012, Renault president Carlos Ghosn told a news conference in Rabat.
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Private equity group Ripplewood will step in with a bid for General Motors' Opel and Vauxhall divisions in Europe if Magna International's bid fails, The Times reported today.
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Michelin plans to cut 1,500 jobs in France as part of measures the French supplier will announce on June 24 to cope with a collapse in global demand for tires, French daily newspaper Le Monde said on Tuesday.
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Swedish sportscar maker Koenigsegg is to rescue Saab with funds from the European Investment Bank guaranteed by the Swedish government, General Motors Europe announced on Tuesday.
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Sweden's Koenigsegg Group AB, maker of some of the world's fastest and most expensive sports cars, has struck a deal to buy loss-making Saab Automobile from General Motors, the companies said on Tuesday.
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Sweden's Koenigsegg, maker of some of the world's fastest and most expensive sports cars, has struck a deal to buy money-losing Saab Automobile from bankrupt General Motors.
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Bankrupt General Motors has agreed to sell money-losing Saab Automobile to Sweden's Koenigsegg Automotive AB, a maker of some of the world's fastest and most expensive sports cars.
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Sweden's Koenigsegg, maker of some of the world's fastest and most expensive sports cars, has struck a deal to buy money-losing Saab Automobile from bankrupt General Motors.
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