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.

Thursday, September 15, 2011

Bits and pieces from yesterday

Let's start today by catching up with yesterday.

Yesterday we got several reports that now also a undisclosed company has gone to the court and asked that the court declare Saab bankrupt. The outstanding amount that the company wants is SEK 1,181,500. All I can say is that if this company succeed in putting Saab into bankruptcy, then the company can say goodbye to this money.

Yesterday we also got to know that the Court of Appeal for Western Sweden, which is handling Saab's appeal on the reconstruction rejection , has said that a decision whether the court will reopen the case or not should not be expected until Friday or maybe even Monday next week.

Last but not least, Dagens Industri reports that Chinese Youngman and Pang Da are willing to invest more than SEK 8 billion (approx. EUR 900 million) in Saab!

"We are ready to invest SEK 8 billion in Saab when we have become part owners of the company. But it will of course not all happen immediately, but step by step," says Rachel Pang, CEO of Youngman cars to DI.

The long-term investments will be aimed at starting a Saab manufacturing plant in China, building up a sales and service organization, to develop three new models, build a technology center for Saab in China and secure the production in Trollhättan.

But first the NDRC will of course have to approve Youngman and Pang Da's plans to become part owners in Saab.

"I feel a fundamental support from the NDRC in our investment in Saab Automobile," Rachel Pang says.