Chinese company to invest in Saab 245 million

June 15, 2011Goran AničićNo commentChinese company Saab

Swedish Saab entered into with companies Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. a non-binding agreement under which his company Spyker get financial injection worth 245 million euros. Chinese company Zhejiang Youngman Lotus Automobile Co. will invest 136 million euros in the 29.9-percent stake in Spyker on behalf of participating in a joint project of production and distribution of Saab car brands in China.

Saab has already announced sales partners Pang Da Automobile Trade Co. increase investment in Spyker at EUR 109 million, with 65 million agreed to retain 24 per cent stake in the Dutch company that is over Saab.

Spyker has difficulty obtaining cash for Saab, which in April was forced to suspend production for a week.

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Tags:Chinese company Saab

Goran AničićJune 15, 2011

the authorGoran Aničić

For over 15 years, Goran Aničić has been passionately focused on Saab automobiles and everything related to them. His initial encounter with Saab cars took place back in 2003 when the first Saab 9-3 and sedan version were introduced. At that moment, he was captivated by the car's Scandinavian design logic and top-notch engineering, and everything that followed stemmed from that first encounter. Later on, through his work at the editorial team of the Serbian automotive magazines "Autostart" and later "AutoBild," he had the opportunity to engage more closely with Saab vehicles. In 2008, he tested the latest Saab cars of that time, such as the Saab 9-3 TTiD Aero and Saab 9-3 Turbo X. In 2010, as the sole blogger from the region, he participated in the Saab 9-5ng presentation in Trollhättan, Sweden. Alongside journalists from around the world, he got a firsthand experience of the pinnacle of technological offerings from Saab at that time. Currently, Goran owns two Saabs: a 2008 Saab 9-3 Vector Sportcombi with a manual transmission, and a Saab 9-3 Aero Griffin Sport Sedan from the last generation, which rolled off the production line in Trollhättan in December 2011.