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.

Wednesday, July 27, 2011

The hunt for short-term funding is on

Saab's and Swedish Automobile's management and friends are working hard to fix the latest credit squeeze which yesterday forced Saab to delay the payment of wages to its white-collar workers.

On one front, Russian banker and Saab friend Vladimir Antonov is working hard to find a solution. Spokesman of Antonov in Sweden, Lars Carlström, tells that they are helping Saab establishing contacts that could lead to a solution. Carlström tells the newspaper that he believes in a solution within a few days.

At the same time reports that Saab's CEO Victor Muller will travel to China to meet the companies Pang Da and Youngman which intend to invest EUR 245 million in Saab. Investments that first require an approval from Chinese authorities. According to E24, Youngman is now considering investing additional money in Saab, and presumably investments that do not require an approval and which can strengthen Saab's financial state immediately. It is also reported that Youngman is the undisclosed company that bought 582 Saab cars in the end of June and paid in advance.