Chinese automaker Hawtai’s ambitious plans to invest in Saab are being held up by further Swedish scrutiny of the deal which could see EUR150m (US$216m) ploughed into the troubled automaker.
Hawtai wants to tap into Saab’s global distribution network and enhanced technology with its proposed 29.9% stake, but is waiting approval from both the Chinese government and the Swedish National Debt Office (SNDO) which has asked for more details of the investment.
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“Saab is an international automotive brand and has advanced technology [with a] worldwide distribution network,” Hawtai director of strategic planning Xinyi Huo told just-auto from Beijing. “For Hawtai to increase our international network and enhance our technology is a strategic target, that is why we are interested in Saab.
“It [investment] should be approved by the Chinese and Swedish government, we will follow the rules, they have the final choice to approve the project. It is better not to give any deadline – I think for the detail the negotiating team is still working.”
Saab’s Trollhattan factory remains idle with most of the production staff stilll at home but Huo was optimistic Hawtai’s its cash injection could kick-start the lines.
“If Saab gets the money it can start up as a factory very soon,” he said. “Hawtai and Saab new carbon technologies are very similar – we could be a win-win cooperation. We have high capability with diesel engines. The most important thing is to utilise each other’s advantages.”
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By GlobalDataHuo declined to be drawn on whether or not Hawtai would look at other western automakers should the deal with Saab collapse now the SNDO has requested further paperwork.
“We have signed a strategy partner agreement,” he said. “We should focus on this strategic agreement and work it out first.”
Huo, who said Hawtai had been in operation since 2000, outlined how the Chinese manufacturer produced SUV and B class products for domestic consumption, but was eyeing exports to markets such as Russia.
