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Car Company Saab Live to fight another day

It looked like the end of the road for the car maker Saab but an agreement has been made with Pang Da, one of China’s biggest car distribution companies, Pang Da has planned to give Saab £26 million upfront and £13 million a month for it to distribute new cars. Now within a few weeks various governments and banks will look at the exchange and if accepted a £57 million exchange in Spyker Saab’s company.

Saab has been out of business now for over a month and has built no cars because it can’t afford to pay it suppliers for the parts of the cars. In the meantime, Spyker has been chasing around trying to get the deal through but only to have them all knocked back. At one point Saab was one of the biggest cars in the UK but ever since then it has gone all downhill for the car maker. Many people are hoping that the company can get there selves out of this mess as it would be a sad day for the car industry.

Also a medium sized Chinese car maker Hawtai a deal for Hawtai to take 30 percent of Saab, as well as providing money for production to start ahead. Saab a old rival for company Volvo had some interesting new cars in the pipeline however it is yet to be seen if there technologies can be used efficiently. Their company has gone overboard once before and we shall see if Saab come with any new supercars or limousines.

We will keep you informed on Saabs comeback in the future and whether the company can make a big comeback.

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