Pang Da talking with the NDRC

After a weekend of different reports about Saab's deal with Pangda Automobile could be in danger, today Saab has issued a press release stating that Pangda has begun discussions with China's National Development and Reform Commission (NDRC) concerning the investment in Saab. In the press release both Saab's acting CEO Victor Muller and CEO of Pangda Mr. Pang Qinghua express confidence that the deal will be finalized.

"Based on our discussions with Pang Da we are confident that Pang Da will get the regulatory approvals needed to formalize the deal. I am very much looking forward to creating a strong business with Pang Da, initially in the distribution and subsequently in the manufacturing of Saab vehicles in China," Victor Muller says in the press release.

CEO of Pang Da, Mr. Pang Qinghua, had the following to say: "The initial procedure discussions we have had with the NDRC were done in good spirit and all parties have a good understanding of the process going forward. We remain convinced that we will be able to get all the necessary documentation and approvals to successfully complete the transactions and look forward to our visit at Saab Automobile's headquarters in Trollhättan, Sweden, later this week."