#PangDaAutomobileTradeCo

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.

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.

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.

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 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.