SAAB

Chinese company to invest in Saab 245 million

POLAR MOBIL presented over 10 new vehicles SAAB 9-5 to use the presidency of the EU

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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