Saab has revealed a binding agreement worth €245 million with Chinese companies Youngman and Pang Da for joint production and distribution in China. You’ve got to hand it to Victor Muller – he really is the master of fundraising. With seemingly all the promise for potential investors of a chocolate teapot, Victor has managed to move pushing […]
Saab drags in another €41 million – but it’s still not enough
The Saab financial problems continue, despite €28 million from a sale and lease back deal and €13 million for car sales to China in the last few days. It’s a tough call, knowing how often to report on the financial woes still engulfing Saab. Do we rush to run a story every time we get a bit of information in […]
Saab: On the edge of oblivion
It now appears that not only are Saab unable to pay their suppliers – and thereby guarantee a reliable flow of components – they now can’t pay wages either. We’ve had a statement in from Saab this morning telling us that they are now unable to pay their staff until they manage to get a bit of funding […]
2012 Saab 9-5 & 9-5 SportWagon prices and models
Saab reveals the 9-5 Sportwagon will arrive in the UK in the Autumn, together with trim and option revisions on the 9-5 saloon. Is it just us, or does it strike you as a bit odd that Saab are sending us information on the 2012 Saab 9-5 revisions and on the yet-to-actually-launch Saab 9-5 SportWagon, when Saab […]
‘Old Pang’ spends another €15 million at Saab
China’s Pang Da has bought a further 650 cars from Saab with an upfront payment of €15 million. They paid €30 million for 1300 Saabs last week. The ‘Old Pang’ bit isn’t our derogatory name for the head of China’s Pang Da – who are busy getting in to bed with Saab – but is how the […]
Saab production restarts – again.
Production has restarted at Saab’s Trollhättan factory after the troubled Swedish car maker finally got its hands on some much-needed Chinese cash from Pang Da. Of course, we nearly got here before when Saab went courting China’s Hawtai Motor Group, but that deal fell apart when the Chinese government refused to sanction the deal. Or Hawtai pulled out. Depending on […]
Saab owners Spyker NV to become Swedish Automobile NV
Spyker are to be renamed Swedish Automobiles, and the deal with Pang Da should see production resume soon at Trollhatten. In the seemingly never-ending saga of Spyker and Saab it does now seem likely that the deal we reported last week with Chinese distributors Pang Da is going to pan out. The messy-looking deal with Pang Da has seen the […]
Saab go back for another Chinese
Saab has reached a deal with the Pang Da Automobile Trading Co in China for the sale of €30 million of Saab cars, joint ventures on sales and production and the sale of a 24% stake in Saab to Pangda. There can’t be many companies in China who haven’t had Victor Muller banging on their […]
Saab’s Chinese Takeaway goes cold
The deal for Chinese car maker Hawtai to invest€120 million in Saab has fallen apart after the Chines government refused permission for the funds to leave China. There’s nothing worse than a cold Chinese; all congealed and unappetising. A reality Victor Muller woke up to today when the news broke that the much-trumpeted investment by China’s Hawtai […]
Saab secures investment from China et al
Saab has secured an investment and short-term funding from China’s Hawtai Motor Group. €120M for 29.9% and €30M short term funding. As you can’t have failed to notice, Saab has stopped production because it’s run out of money. And despite the best efforts of Vladimir Antonov to throw money at Saab, the EIB and the […]