Saab is aiming to restart production at its Trollhattan factory this Friday (27 May) following receipt of a cash injection from potential Chinese partner Pang Da.
The Swedish manufacturer was paid EUR30m (US$42m) to produce an initial 1,300 cars for the Chinese distributor later this year although it is as yet unclear if all supplier payment issues have been settled.
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“We are aiming for Friday – by mid-week we will have a better idea of whether it will be possible but we are working with the ambition of Friday,” a Saab spokeswoman in Sweden told just-auto.
“The supplier negotiations are very much in progress – I am not sure whether [they] are finished or not. That is what the suppliers and we are working towards.”
Following the initial EUR30m from Pang Da, the Chinese automaker will make a decision concerning a further possible tranche of EUR15m for more cars. The initial production is slated for delivery this autumn.
“Everybody will be in the factory Wednesday,” said the Saab spokeswoman. “Most of us have been at work the whole time, so it is not the [total] 3,800 at home – it somewhat more than 1,000 who have been on leave at home.”
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By GlobalDataSaab parent Spyker – shortly to be renamed Swedish Automobile – noted Pang Da was now in talks with Chinese authorities including the National Development and Reform Commission (NDRC) – to obtain regulatory approvals for the investment in Spyker and Saab Automobile.
“Based on our discussions with Pang Da we are confident that Pang Da will get the regulatory approvals needed to formalise the deal,” said Saab CEO Victor Muller in a statement. “I am very much looking forward to creating a strong business with Pang Da, initially in the distribution and subsequently in the manufacturing of Saab vehicles in China.
“What needs to be pointed out is that Pang Da’s advance payment and sales of imported Saab cars are not subject to approval from the NDRC. The first advance payment of EUR30m was received last Tuesday.”
Pang Da confirmed it would visit the Saab factory in Trollhattan this week. Founder and CEO Pang Qinghu said: “We remain convinced that we will be able to get all the necessary documentation and approvals to successfully complete the transactions.”
