Saab To Resume Production
Saab halted production for budgetary reasons, but will begin again this week. At one point, it seemed like the auto maker was going bankrupt yet again. With not enough venture capital from Spyker, the assembly line in Trollhättan, Sweden came to a stop.
Alas, production started again Friday, where an initial batch of 100 cars will roll off the line. By Monday, production will be back to 218 vehicles a day. On hand at the restart event were Victor Muller, CEO of Saab, as well as Mr. Pang Qinghua, Chairman and CEO of Pang Da Automobile, the Chinese distributor that has invested in Spyker Cars.
According to World Car Fans: “The deal brought Saab a much needed €30 million in cash up front, in exchange for 1,300 vehicles for a Chinese automaker to distribute in China. That firm, Pang Da Automobile,would receive a 24 percent stake in Dutch-based Spyker Cars and an additional batch of Saab vehicles to distribute in China should the €110 million deal be approved by various government parties.”
“This is a great day for our company and it is great to see the plant running again. We have gone through a rough patch in recent weeks, but Saab is back in action again,” added Muller.
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