Swedish carmaker Saab and its Dutch owner Spyker signed a draft agreement with the Chinese company Pang Da Automobile of the joint distribution and manufacturing, announced on Monday Spyker.
Memorandum of Understanding includes a strategic alliance for the joint venture in distribution in which the partners have equal shares, according to Spyker. The agreement includes a “joint production of Saab vehicles and vehicles owned by the joint venture in China.”
Agreement on Cooperation in China was released less than a week after Spyker announced that it has failed its cooperation agreement with Chinese vehicle manufacturer HawTai.
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