Saab Continues To Hang On As Funds Trickle In

Chinese car maker Zhejiang Youngman Lotus Automobile Co. gave ailing Saab a new injection of cash, Saab said on Thursday, keeping alive the Swedish car maker's hopes of survival.

The money is part of a 70 million euros ($97 million) loan planned by Youngman that is intended to see Saab through a period of creditor protection until Chinese authorities approve a bigger investment by Youngman and China's Pangda .

That approval could come in weeks, Saab said.



 

Joe_Limon - 10/14/2011 10:05:00 AM

+1 Boost

Don't saabs still use GM parts?

Joe_Limon - 10/14/2011 5:13:25 PM

+1 Boost

Never said they did, I was just stating that they use the same parts. If you buy a SAAB it's not going to be very hard or expensive to repair even if SAAB does go under.

mini22 - 10/14/2011 1:04:58 PM

+1 Boost

As the Kroner turns......