Saab To Resume Production After Short Term Loan

Saab To Resume Production After Short Term Loan

With Saab parent company Spyker Cars having secured a 30 million euro short-term loan, Saab vehicles will now resume production after a payment dispute with suppliers forced them to suspend their operations.

Saab CEO Victor Muller released a statement to the media, remarking “I would like to apologize to our dedicated employees, suppliers, dealers and customers for the disruptions of the past weeks. We will do everything in our power to restore the confidence in our company as soon as practically possible.”

Saab is also exploring other avenues for funding, including partnerships with Chinese automakers and a land deal with controversial Russian businessman Vladimir Antonov, that would involve Antonov buying Saab’s Swedish production facility and then leasing it back to the automaker as a means of giving Saab some liquidity. European investment outlets previously expressed significant reservations regarding Antonov and his alleged connections to Russian criminal networks.

[Source: Automotive News]