Saab gets another 15m euro cash injection from Pang Da

Saab gets another 15m euro cash injection from Pang DaSaab has obtained another cash injection from Pang Da, its new Chinese partner, according to reports. The Swedish automaker has received a further order for 630 cars, worth 15 million euros, on top of the 1,300 cars worth 30 million euros already ordered by the Chinese company in May.

The new order follows a visit by senior Pang Da representatives, headed by Chairman Pang Qinghua, to Trollhattan, where Saab’s factory is located. Pang Da is paying in advance for the order, with delivery of the vehicles slated to begin sometime in the third quarter.

The Chinese company has already provided Spyker Cars, which owns Saab, with an advance payment in exchange for Saab cars to be sold in China. It raised nearly US$1 billion in its initial public offering in April, and is looking at taking a 24% equity stake in Spyker at a cost of 65 million euros, for 4.19 euros per share as part of a 110 million euro deal, the reports add. Pang Da is waiting for regulatory approval at home.

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Anthony Lim

Anthony Lim believes that nothing is better than a good smoke and a car with character, with good handling aspects being top of the prize heap. Having spent more than a decade and a half with an English tabloid daily never being able to grasp the meaning of brevity or being succinct, he wags his tail furiously at the idea of waffling - in greater detail - about cars and all their intrinsic peculiarities here.

 

Comments

  • Jerry on Jun 02, 2011 at 2:14 pm

    Lol! Is “Pang Da” (or gigantic) really?

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  • Great News i guess.
    Current own a saab 95 2.0t 2005 model. Kinda wish there are more mechanics around that specializes saabs.
    Anyone know any mechanics?

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  • Lim Kopi on Jun 02, 2011 at 2:54 pm

    Well done CHINA …. going around saving the world economy ….

    You da man!!

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  • Yes, if it was injected by any other party, we’ll together say bravo, kudos etc even if it is for a dying brand like Saab.

    On the other hand, we condemned left and right when Proton did the same for a great brand names Lotus.

    Malaysian is the only nation on earth that love to hate their own efforts or products.

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  • China saving the world ….. Kungfu Panda 2

    way to go …..

    Like or Dislike: Thumb up 0 Thumb down 0
 

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