Saab production may begin again next week

Article by Christian A., 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.

If you liked the article, share on:

Topics: saab, production

Comments

Recommended

Dubai is one of the few countries where expensive cars are the norm, many of which are specially modified as well. And this just in: Bentley has debuted the new...
by - November 21, 2017
The 2018 Jaguar XEL with its stretched-out wheelbase and longer doors is the newest addition to the growing list of premium sedans in China---joining the ranks of Mercedes-Benz C-Class L,...
by - November 21, 2017
Honda this week announced that its all-new 2018 Clarity Plug-in Hybrid will arrive at US dealerships with a starting price of $33,400 beginning on the first of December. Because the...
by - November 21, 2017
Lamborghini had been expected to refresh its entry-level model – the Lamborghini Huracan – in late 2018 or early 2019. But here is some good news for fans of the...
by - November 20, 2017
The Chevrolet Corvette will be turning 65 years old in 2018, and as part of the celebrations, the brand is introducing a special edition C7 – the Chevrolet Corvette Carbon...
by - November 19, 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