Auto News 5

GM Daewoo, the Korean unit of General Motors, said today it expected to receive support from the South Korean government. Full story...

Saab said today it will file for reorganization under a self-managed Swedish court process. Full story...

Saab is seeking $1 billion (793 million euros) to be self-financing, the company said today after it filed for reorganization under a self-managed Swedish court process. Full story...

Saab's fight for survival intensified today as the General Motors unit won protection from creditors while trying to find a new partner and raise fresh funds. Full story...

Saab's management board will meet again Friday to discuss the troubled carmaker's future amid reports that the company will soon file for protection from creditors. Full story...

Last year, former Champ Car teams were immediately competitive on road and street circuits but were having much more problems on ovals due in part to their lack of knowledge of the Dallara-Honda but also due to the lack of experience of some of the drivers. Full story...

A crewmember for Jeremy Mayfield's team has been suspended indefinitely for violating NASCAR's new substance abuse policy. Full story...

McLaren Mercedes Formula 1 driver Lewis Hamilton lends his support to the new Formula Kart Stars Championship. Full story...

The world debut of both the Porsche 911 GT3 and the Porsche Cayenne Diesel will take place at this year's 2009 Geneva Motor Show. The pair of models come from the same pedigree, though each has a very different intention. Full story...

Conquest Racing team owner Éric Bachelart admitted that motorsport must quickly adapt to the new economy, and for that reason he may be forced to rotate drivers during the 2009 IndyCar series. Full story...

GM's Swedish Saab division today received approval for reorganization in Sweden, saying that they'd need $1 billion to become self-financing. The Swedish process for reorganization requires companies to apply and subsequently be approved, though approval is given only to companies likely and expected to succeed in their plans. Full story...

Audi Motorsport has decided to release one official photo of its stunning new LMP1 endurance race car, the R15 which will compete in the Sebring and Le Mans endurance events. Full story...

Kia's introduction of the Soul signals a significant change in the way Kia intends to do business. The Soul is an in-house effort with its own platform and an edgy design that really catches your eye. The other thing that is going to catch a lot of eyes in our current economy is the base price of $15,495 with a 1.6-litre four and a five-speed manual gearbox. At the top end, the price goes to $21,995 if you get the Soul "Burner" with a four-speed automatic and the DOHC 2.0-litre four. Full story...

Toronto - This summer, a first lithium-ion full electric car will be sold in Canada and the United States. It's the Canadian-born Maya 300, a B-segment model developed by Electrovaya. The introduction was made at 2009 Canadian International Auto Show held in Toronto. Full story...

Porsche says that their engineers have been able to hit speeds as high as 86 miles per hour in the upcoming Cayenne S Hybrid. The gas-electric version of the popular performance SUV is set for launch in 2010 and will feature a performance-enhancing parallel hybrid drive system that fixes the electric motor between the gas engine and transmission. Full story...

The upcoming MKT is a Lincoln like no other. An exercise in technology and style, the unique-looking 7-seat crossover is penned in a way that brings the brand's presence on the road to a new level. Full story...

Conquest Racing team owner Éric Bachelart admitted that motorsport must quickly adapt to the new economy, and for that reason he may be forced to rotate drivers during the 2009 IndyCar series. Full story...

Last year, former Champ Car teams were immediately competitive on road and street circuits but were having much more problems on ovals due in part to their lack of knowledge of the Dallara-Honda but also due to the lack of experience of some of the drivers. Full story...

As Auto123.com revealed a few weeks ago, Dutch driver Robert Doornbos has finally been confirmed at Newman-Haas-Lanigan Racing to drive alongside Graham Rahal in the 2009 IndyCar championship. Full story...

A crewmember for Jeremy Mayfield's team has been suspended indefinitely for violating NASCAR's new substance abuse policy. Full story...