IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Friday, May 27, 2011

Pang Da deal will take two to three months to complete

Today Saab's production in Trollhättan was restarted after a seven week stop. Present was Saab Automobile's CEO Victor Muller and Mr. Pang Qinghua, CEO of Chinese partner Pang Da Automobile Trade. Pang Da is also planned to become part owner of Saab. But for this to happen, first both Swedish and Chinese Governmental agencies needs to approve of the deal, and in addition both the European Investment Bank and General Motors must also give their blessing.

To Swedish Radio Victor Muller said that it will take maybe up to two or three months to complete the ownership deal. He also said that Geely's acquisition of Volvo Cars have paved the way and made everything easier for Saab and Pang Da.

CEO of Pang Da, Pang Qinghua said that he was very happy to be in Sweden and at Saab in Trollhättan. "Saab is no newcomer to China, for the Chinese customers Saab stands for high technology, safety and environmental friendliness," Qinghua told the press.

Victor Muller and Pang Qinghua Photo by Evelina Myrbäck/P4 Väst. 

Pang Qinghua continued saying that selling 100,000, 200,000 and even 300,000 Saab cars is possible in China. Victor Muller was a more modest and said that Saab's goal of selling 1,200 Saab in China this year could very well be exceeded.

It was also revealed today that there is work remaining to come to terms with all subcontractors and suppliers of Saab. So far Saab has made deals with the most important suppliers. "We're not done with all agreements with all suppliers that need to supply us for the production to be able to run continuously. But we have started with what we needed first to get started," Gunnar Brunius, Vice President Purchasing & Manufacturing at Saab Automobile, said.

To watch Pang Qinghua at the press conference today, visit TV4.

To watch Victor Muller at the press conference today, also visit TV4.

Or see the embedded video below.