Participants in the annual LA Design Challenge always manage to come up with edgy, wacky designs for future vehicles, but with a theme of "Biomimicry and Mobility: 2025" this year's crop of cars might be the quirkiest we've ever seen. As usual, automotive designers from around the world participated in this year's competition, and all the designs will all be unveiled next week during the LA Auto Show with a winner being announced on November 21.
While General Motors may be jetting around the globe in an attempt to woo investors, one company has made it clear it wants to snap up plenty of GM stock once The General goes public. Chinese manufacturer SAIC Motor President Chen Hong is currently in the States to negotiate with the American automaker about procuring GM shares. His company currently packs around $5.7 billion in cash or cash equivalents, so SAIC Motor shouldn't have any problem laying its hands on more than few GM shares.
The UK's Sunday Mail is reporting that Ford has returned to Shanghai Automotive Industry Corp. (SAIC) to make another pitch to sell Volvo. As we told you back in June, SAIC is one of the leading contenders to snap up Volvo. Although Ford had long maintained the Swedish automaker was not for sale, it recently admitted it was entertaining offers for the firm. Having paid $6.4 billion for Volvo back in 1999, it is believed that Ford is now seeking around $6 billion for the company. That's a lot of
SAIC, China's largest home-market automaker, has just announced via a filing with the Shanghai Stock Exchange that it's entering into a joint venture to develop hybrid and electric vehicles. The project calls for a $300 million investment up-front, proving once again that green tech can be expensive. Technologies like electric vehicle transmissions and drivetrains will go through the research and development stages at the new company before going into production. SAIC is already partnered up wit
China's biggest automaker announced Monday that it's injecting another $1.25 billion into its drive to export SAIC-brand vehicles worldwide. Monday's announcement follows February's news that the company had established a $460 million unit to build SAIC cars based on the Rover 25 and 75 models.