#investment

In yet another twist to the ongoing Saab soap opera, the Swedish automaker has received a payment from Zhejiang Youngman Lotus Automobile as it struggles to stay solvent. The payment, which is some $5 million will be reportedly be used to cover outstanding tax expenses.

Ford announced that they are investing $446 million into their Sao Bernardo do Campo plant near Sao Paulo, Brazil towards the production of a new global vehicle.

Things have been changing for a few years already, and the future is not looking good for Canada.  Thanks to their lower labor rates and production costs, more and more car companies are looking to move their operations down to Mexico.

Singapore billionaire Peter Lim has made a “significant investment” in British sports car maker McLaren, the company said. With his contribution, Lim has joined McLaren Automotive’s board with immediat effect. Forbes ranked him the eighth richest person in Singapore, with an estimated fortune of 1.8 billion.

General Motors has announced that it’s hiring 1,000 people over the next couple years to help improve electric vehicle related infastructure, as well as charging, motor and battery technology.