Airpath Magnetic Mounted Compass Type Aqu-3/a on 2040-parts.com

British manufacturer Atalanta Motors to make comeback

Ever heard of Atalanta Motors? We wouldn’t be surprised if you hadn’t as the British sports car manufacturer went out of business a long time ago. Owing to the outbreak of World War II, Atalanta Motors shut its doors back in 1939 after making only 21 cars.

Toyota paid $10 million to settle unintended acceleration lawsuit

Toyota Motor Corp. agreed to pay $10 million to settle a lawsuit with the families of four people who were killed in an accident that led to the automaker’s recall of millions of vehicles over unintended acceleration concerns. The settlement was reached in September, but the amount was not made public at the time after both Toyota and the plaintiffs agreed to keep the deal confidential.

Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.