The roller coaster ride continues. Just now Spyker Cars has issued a press release stating that the agreement between Saab and Hawtai has been terminated. The two companies will continue discussions about a cooperation, but not an exclusive cooperation. Spyker Cars and Saab will now continue discussion with other Chinese car manufacturers about a partnership.
Work to secure short- and medium-term funding also continues. To see the press release, follow this link.
This is really bad news. We know that Saab has a very strained financial situation and the EUR 30 million from Gemini Investment Fund Ltd will not last long. The termination of the deal with Hawtai means that Saab now must restart the search for short- and medium-term funds. That can take days and weeks, and the question is how many days Saab has left.
A blog fueled by enthusiasm about Saab, the greatest car company between the North and the South Pole. And their cars, which probably is the only cars that would start on a cold and crispy South Pole morning.
