Saab’s apparently never-ending drama rages on as the company is currently fighting to stay above water. Recently, a few rumors inside the automotive industry popped up concerning Swedish Automobile N.V.’s partnership with the two Chinese investors: Pang Da and Youngman. After Saab entered into their voluntary reorganization, the proposed investments made by Pang Da started to become less than convincing. Saab issued a press release to put those rumors to bed, saying that the reports were simply “based on a misunderstanding.”
The other Chinese company committed to Saab, Youngman, is also making headway. The two companies entered into a bridge loan agreement in September, and as of now, the first payment has been received. Youngman also announced that they plan of issuing the rest of their agreed loan by October, 22 of this year. In total, Youngman and Pang Da will contribute 245 million euros to Swedish Automobile N.V. and Saab, all of which the company plans of repaying as soon as possible. Full approval for every piece of the loan is still up the air as the Chinese companies are waiting for final approval from the relevant authorities.
Source: Saab
