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Saab reportedly bought by Chinese-led consortium

A Chinese-controlled consortium has completed a deal to buy the assets of bankrupt Swedish carmaker Saab, media reports said. National Electric Vehicle Sweden (NEVS) will pay 1.5 billion to 1.8 billion kronor ($210 million to $250 million) for Saab, excluding spare parts company Saab Automobile Parts AB, according to reports in Sweden. NEVS did not confirm the reports.

Volvo XC60 Plug-in Hybrid Concept Details

Volvo XC60 Plug-in Hybrid Concept Ahead of a launch at Detroit next week, Volvo releases details of the XC60 Plug-in hybrid concept and a raft of photos. Despite calling the Detroit-bound Volvo XC60 hybrid a concept, it’s clear that the hybrid crossover/SUV is heading for a production model, probably sometime later in 2012. And what better place to showcase a petrol-engined hybrid (the XC60 Hybrid is a petrol-engined hybrid, unlike the diesel-engined V60 plug-in hybrid) than in the US, where diesel is still the fuel of Satan for most?

Nissan IDx concepts bring back budget racers

Nissan channeled its inner Datsun for the Detroit auto show on Monday. The Japanese brand showed off its IDx Freeflow and IDx Nismo concepts, which we first saw in Tokyo. The brand cited the new ways people buy and customize cars as the reason for the classic yet eye-catching style.