Saab production may begin again next week

Article by Christian Andrei, on May 17, 2011

Saab is set to resume production late next week following a new rescue deal with Chinese investor, Pangda Automobile Trade Co., according to Saab Chairman Victor Muller.

Saab’s owner, Spyker Cars, revealed a deal with this Chinese company last Monday, saying that it will secure Saab's medium-term funding requirements and permit production to resume after it shut down for around six weeks. Last Tuesday, Muller had a meeting with Saab workers at its plant in Trollhattan in western Sweden.

Saab spokesman Eric Geers said Muller didn’t make guarantees but told workers that production may restart "as early as the end of next week." Geers said that there is no exact start date yet but that Saab has started negotiating with the suppliers.

Production stopped when suppliers of parts halted deliveries when bills totaling hundreds of millions of Swedish crowns were left unpaid. In this Pangda deal, Saab will instantly get 30 million euros ($42.59 million) for vehicles intended to be sold in China.

A deal with China-based Hawtai Motor Group fell through a week ago. The Chinese government has to approve any acquisitions or overseas investments but Muller said that as Pangda is a distributor and not a manufacturer, it doesn’t need the government’s approval to buy Saab cars for sale in China.

Topics: saab, production

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

The much-anticipated debut of the new Wrangler will surely happen. As it approaches, we’ve gathered all the latest information released so far. Of course, most are expecting that the next...
by - December 5, 2016
Nissan has announced the pricing for its new commercial pickup line. So for those who have been waiting for Nissan’s official price list (plus a little more info), read on… ...
by - December 5, 2016
Sorry folks, the AMG-fied Mercedes-Benz X-Class will remain in the fantasy world. According to some news, the AMG big boss has finally spoken up about why an AMG X-Class is...
by - December 5, 2016
In Japan, Toyota stays in the limelight by always cooking up something new for its famous 86 sports car. A colour orange Toyota 86 performance edition is one that’s hard...
by - December 4, 2016
Back in 2009, Nissan first introduced the Nissan Leaf, the company’s first all-electric vehicle. LEAF stands for Leading Environmentally-friendly Affordable Family car and this particular EV has been considered as...
by - December 3, 2016
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