Saab Confirms Loan from China’s Youngman

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Saab Confirms Loan from China’s Youngman
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Narrowly escaping bankruptcy and liquidation for the 17th time (ok, maybe that’s an exaggeration), Saab has confirmed receipt of a 70 million Euro payment from Chinese investor and automaker Zhejiang Youngman Lotus Automobile Co. Far from a magic wand that will make all of Saab’s troubles go away, the automaker continues to operate in its… Continue Reading...

Saab Granted Court Protection From Creditors

Saab Granted Court Protection From Creditors
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The Saab soap-opera continues, but this week the news is good. Saab just won a court appeal to protect it from creditors while it awaits funding from its Chinese investors. Earlier this year, two Chinese companies, Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co. agreed to buy shares in Saab, totaling $334-million…. Continue Reading...

Saab Signs On Another Distributor in China to Help Stay Afloat

Saab Signs On Another Distributor in China to Help Stay Afloat
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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… Continue Reading...

Saab Plans To Restart Production Next Week

Saab Plans To Restart Production Next Week
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Since “All My Children” and “One Life To Live” have been canceled, soap opera fans can turn to Swedish car-firm Saab for their weekly dose of drama. Saab has seen its fair share of ups and downs in the last year and a half. General Motors almost left it for dead when a take-over deal… Continue Reading...

Saab Signs Joint Venture With Chinese Car Distributor Pangda

Saab Signs Joint Venture With Chinese Car Distributor Pangda
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Saab appears to have yet again found a savior in China, announcing a joint venture with Pangda Automobile Trade Co., the largest distributor of vehicles in the world’s largest car market. The deal will see Pangda purchase 30 million Euros ($42.5 million) in Saab vehicles, with a second purchase of 15 million Euros  ($21 million)… Continue Reading...