Brussels - The European Investment Bank (EIB) on Thursday formally approved soft loans totalling 3 billion euros (3.84 billion dollars) to Europe's troubled car making industry.

This is the second instalment in a series of loans that are expected to total more than 7 billion euros by June, EIB officials said in a statement.

The money approved on Thursday will benefit a number of carmakers, including BMW, Daimler, Fiat, PSA Peugeot-Citroen, Renault, Volvo Cars, Scania and Volvo Trucks.

London, Mar. 12: The British Government has offered a grant of up to 27 million pounds to TATA-owned Jaguar Land Rover for the production of a new ''green'' car.

According to a Sky News report, the company will make a decision later this year on whether to go ahead with the
400 million pound project at its factory at Halewood on Merseyside.

The car will be based on Land Rover''s LRX Concept vehicle.

Stockholm  - Saab, the loss-making Swedish subsidiary of US giant General Motors Corp, Thursday said it planned to shed 750 employees from its workforce of about 4,000 in Sweden.

Broadcaster TV4 said 650 of the affected employees were blue- collar workers.

The employees were informed about the plans Thursday.

Saab last month filed for bankruptcy protection while it attempts to reorganize its business. That move came after GM said it planned to shed the brand as part of its restructuring efforts.

Bangalore, Mar. 11 : As growth slows down, Volvo India, the Indian arm of Sweden-based heavy bus and coach manufacturer, has resorted to rigorous cost cutting measures.

"Recession has affected everyone and Volvo buses is no different. High growth rates which were there six months back ... more or less disappeared, financing is not available to customers and if it is available it is available at very high interest rates," Akash Passey, Managing Director of Volvo Bus India Private Limited, said here on Tuesday.

He also said that Volvo was eyeing orders from the public transport undertakings.

Geneva  - Mercedes launched the E-Class Coupe in Geneva just three months after bringing out the saloon version, describing the two-door as the world's most aerodynamically efficient series-production car.

Featuring no B-pillars and fully retractable side windows, Mercedes says the coupe has a drag coefficient with a Cd-figure of only 0.24. The new, four-cylinder engine consumes up to 17 per cent less fuel while at the same time offering more performance and torque.

Geneva  - Nissan's luxury brand Infiniti has announced that it will launch a "visionary" concept, designed in collaboration with fashion giant Louis Vuitton to celebrate the 20th birthday of the luxury segment, at the Geneva Motor Show.

Revealing only a minor detail of the Infiniti Essence, the car maker said the concept will indicate what customers could expect in the near future.