Saab and Spyker have officially announced the signing of an agreement with the Chinese Hawtai Motor Group: This is a joint venture on production, technology and distribution, and subscription agreements for a 'total of 150 million euro. Of these 120 will be derived from the sale of 29.9% stake in Saab in possession of Spyker.
Another 30 million will be part of a convertible loan with a maturity of six months at a rate of 7% per year. The operation is now under review by several agencies of the Government of China, the European Investment Bank and the Swedish National Debt Office. With this alliance would come Saab practice in the thriving Chinese market.
A golden opportunity for the crisis in the first quarter 2011: euro 72 million loss and decline of business objectives for 2011 set at 80,000 cars produced. Spyker had also stopped for almost 40 days in assembly lines for Saab inability 'to obtain components from suppliers due to delays in payments.
"The partnership allows Saab Hawtai one hand to continue to execute its business plan and that 'was restarted with the medium-term loans - said Victor Muller, CEO Spyker and chairman of Saab Automobile - the other allows Saab Chinese car to enter the market and establish a technology partnership with a major Chinese manufacturer.
" 
Another 30 million will be part of a convertible loan with a maturity of six months at a rate of 7% per year. The operation is now under review by several agencies of the Government of China, the European Investment Bank and the Swedish National Debt Office. With this alliance would come Saab practice in the thriving Chinese market.
A golden opportunity for the crisis in the first quarter 2011: euro 72 million loss and decline of business objectives for 2011 set at 80,000 cars produced. Spyker had also stopped for almost 40 days in assembly lines for Saab inability 'to obtain components from suppliers due to delays in payments.
"The partnership allows Saab Hawtai one hand to continue to execute its business plan and that 'was restarted with the medium-term loans - said Victor Muller, CEO Spyker and chairman of Saab Automobile - the other allows Saab Chinese car to enter the market and establish a technology partnership with a major Chinese manufacturer.
"
- "Saab Production to Restart After $44 Million Short-Term Loan" and related posts (02/05/2011)
- Saab closing in on deal with Russian, Chinese investors (02/05/2011)
- Saab secures funds, aims to resume production (02/05/2011)
- Vladimir Antonov gets green light for Saab stake (28/04/2011)
- Saving Saab Depends on G.M. (26/04/2011)
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