Saab is planning a global tour to introduce Chinese partners, new investor

Article by Christian A., on May 4, 2011

Saab Automobile is planning an intense public relations campaign targeting major motor shows and media to introduce its latest partners in China, and possibly its new Russian investor Valdimir Antonov, too, Saab Cars North America’s spokesperson Michele Tinson said in a telephone interview.

The plan will also include Victor Muller, the company’s chairman. The campaign is said to be similar to Muller’s effort last spring to show that the company is still manufacturing vehicles.

However, the campaign will still be put on hold, awaiting the European Investment Bank’s approval on the sale of the company’s buildings, property and equipment to Antonov.

These assets are used by the bank as collateral for a 217 million euro loan to the company.

The government of Sweden has mentioned that it would guarantee the debt if the bank approves the release of the assets to the investor. In return, the Russian businessman would have a 30 percent stake of the company.

Similarly, the joint venture of Saab with Hawtai Motor Group, which is the company’s Chinese partner, also needs approval of several government agencies. The company is hopeful that the public relations blitz will commence in several weeks, Tinson disclosed.

Last year, the company stopped its production due to the unpaid bills to its suppliers, which refused to deliver components.

On Monday, parent company Spyker disclosed that it is planning to resume operations within a week after it was able to secure almost 60 million euros (about $90 million) in short-term funding.

Topics: saab, china

If you liked the article, share on:

Pin It

Comments

Recommended

Top Gear has revealed that for its “Stars in a Reasonably Fast Car” segment, it will now be using a slightly enhanced Toyota GT86, which in the U.S. market is...
by - March 24, 2017
Porsche is laying aside any plans of pushing another hybrid hypercar into their line-up -- at least not at this time. Oliver Blume, Porsche Global Chief confirmed in a recent...
by - March 24, 2017
Since 1993, Lexus has produced 4 generations of the Lexus GS, with the GS F amongst its newest member of the family. Unfortunately, rumors are also heating up that the...
by - March 24, 2017
In a leaked image following a presentation held in China, we learned that Czech automobile manufacturer Skoda will soon unveil 2 more new SUVs in China, resulting in a four-model...
by - March 24, 2017
McLaren is said to be designing the next generation of Sports Series, which could include a V6 hybrid among its powertrain options. It was earlier reported that the British automaker...
by - March 24, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries