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Saab seeks partner for new small car, aims to be a contract manufacturer

Saab is continuing its search for a partner to help it build a new entry-level car and the company also wants to build vehicles for other automakers at its factory in Sweden, Chairman Victor Muller said. "We are talking with other manufacturers to buy a platform or drivetrain technology for this entry-level car," Muller told Automotive News Europe. "It should come as soon as possible, in 2014 the earliest." Muller said the car would be priced at about 20,000 euros, or about $28,300 at current exchange rates.

A look at Volvo future products

Volvo wants to derive economies of scale from a new front-wheel-drive architecture called SPA, for Scalable Platform Architecture. The redesigned XC90 crossover due in 2014 will be the first to use the architecture. SPA was designed for a new family of four-cylinder gasoline and diesel engines that Volvo will begin using on existing models next fall.

Saab secures more funds as it seeks to avert collapse

Saab parent Swedish Automobiles has found another financial lifeline in China as the struggling carmaker faces possible legal action from unions over unpaid wages. In a statement this morning, Swedish Automobiles announced that an un-named Chinese firm has placed an order for 582 Saab vehicles, valued at 13 million Euro (£11.5m) with full pre-payment 'expected to be made this week'.  Saab plans to use the funds to pay wages and begin partial payments to component suppliers in order to restart production. Saab's financial crisis: the current situation.