The drama involving Saab is on-going and doesn’t seem to show any signs of slowing down.
It seems every time the company starts production, something will cause the production line to stop, whether its money related or parts supply related, and often both.
Saab was hoping to have some stability back in their lives after signing a $110-million deal with Pang Da, a Chinese parts firm, but that wasn’t enough. Now, Zhejiang Youngman Lotus Automobile Co., which is another parts distributing company in China, is taking an equity stake in the company as part of a distribution and manufacturing joint venture.
This new deal is reportedly worth $195-million, and will give Youngman a 45% stake in parts manufacturing in China, while Saab N.V. retains 45% and Pang Da 10%.
Even this deal is still subject to the approval of the Chinese government, so this drama is still far from over. Stay tuned.