Saab saved again, partners with China’s Pang Da Automobile

Saab Automobile owner Spyker Cars NV Monday said it has found a new partner in China - Pang Da Automobile that will provide fresh funds for the troubled Swedish car maker, giving investors hope the company can survive after a previous deal collapsed last week.

“The memorandum of understanding includes a strategic alliance consisting of a 50-50 distribution joint venture,” Spyker said in a statement.
Spyker said Monday that Pang Da will inject euro65 million ($92 million) for a 24 percent stake in Spyker, and the two will form a 50/50 joint venture for Saab cars in China.
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0to60 - 5/16/2011 11:27:22 AM

+1 Boost

sigh

Agent63 - 5/16/2011 11:36:52 AM

+1 Boost

Just kill the brand already. Or sell it to the European firms for a cheap price. If anything it will benefit the Chinese company's with technology to build from or some platforms to use for their own cars. I'm Chinese myself and I know they would take the best from Saab and implement it on their cars. In other words sell it to their counterparts.

uaw_lax - 5/17/2011 11:47:41 AM

+2 Boost

Cars made by children sounds frightening.

mini22 - 5/17/2011 12:54:18 PM

+1 Boost

I hope the deal holds as I would like to see Saab make it. GM did save them originally but ultimately raped them for technology.Finally GM had no quams about throwing them away. In a way there are some similarities with Chrysler. However Chrysler has been given a gift from God in Marchionne. Saab has not been so lucky. Obviously Mueller is not a good manager. Rather he is more of a deal maker. Assuming Saab can get some kind of financial stability perhaps they can then get some interesting new product out there. It may not be sound financially to save them but I'm ruting for them just the same. No company deserves to be raped and pillaged.Daimler did it to Chrysler as did Cerberus. It's morally not right.