Saab Automobile and Spyker, the Dutch House in 2010 acquired the Swedish brand, today announced a joint venture with Hawtai Motor Group, which will cover the losses accumulated by the manufacturer and the cost of an increase in production. To save the company from bankruptcy was not enough for action by the Spyker nor that of the Swedish government with a loan of 400 million euro.
So it was made more concrete the possibility of new investors to revive the fortunes of Saab. Among the proposals not only those of several groups from China, but also that the tycoon russoVladimir Antonov. To emerge was just a group of China, the Hawtai. It is a company founded in 2000, has reached a research and development center in Beijing and factories in Mongolia and Shandong Province, a production capacity of 350,000 vehicles per year to 300,000 diesel engines (manufactured under license 'Italian VM) and 450,000 automatic transmissions.
Hawtai plans to bring its production capacity in 2015 to one million vehicles. This agreement will provide support on all lines, that of production, technology and distribution and financing of 150 million euro. Of these, 120 million will be paid for the sale of 29.9% stake in Spyker and 30 million will be part of a convertible loan with a maturity of six months at a rate of 7% per year.
Victor Muller, CEO Spyker and chairman of Saab Automobile, "the partnership allows one hand to continue executing the business plan that has been restarted with the medium term, the other allows Saab to enter the Chinese car market and establish a technology alliance with a strong local producer.
" Satisfaction was also expressed by Richard Zhang, vice president of Hawtai: "It's a great day for a relatively young group like ours. The agreement with Saab allows us access to innovative technologies and to become an international network. " For the actual start of operations "bailout" is just waiting for approval by some government agencies of China, the European Investment Bank and the Swedish National Debt Office.
Then the Swedish House can point to emerge from the crisis that led her to lose 72 million euro in the first quarter of 2011 and miss the target of 80,000 vehicles produced by the end of the year. 
So it was made more concrete the possibility of new investors to revive the fortunes of Saab. Among the proposals not only those of several groups from China, but also that the tycoon russoVladimir Antonov. To emerge was just a group of China, the Hawtai. It is a company founded in 2000, has reached a research and development center in Beijing and factories in Mongolia and Shandong Province, a production capacity of 350,000 vehicles per year to 300,000 diesel engines (manufactured under license 'Italian VM) and 450,000 automatic transmissions.
Hawtai plans to bring its production capacity in 2015 to one million vehicles. This agreement will provide support on all lines, that of production, technology and distribution and financing of 150 million euro. Of these, 120 million will be paid for the sale of 29.9% stake in Spyker and 30 million will be part of a convertible loan with a maturity of six months at a rate of 7% per year.
Victor Muller, CEO Spyker and chairman of Saab Automobile, "the partnership allows one hand to continue executing the business plan that has been restarted with the medium term, the other allows Saab to enter the Chinese car market and establish a technology alliance with a strong local producer.
" Satisfaction was also expressed by Richard Zhang, vice president of Hawtai: "It's a great day for a relatively young group like ours. The agreement with Saab allows us access to innovative technologies and to become an international network. " For the actual start of operations "bailout" is just waiting for approval by some government agencies of China, the European Investment Bank and the Swedish National Debt Office.
Then the Swedish House can point to emerge from the crisis that led her to lose 72 million euro in the first quarter of 2011 and miss the target of 80,000 vehicles produced by the end of the year.
- Saab signed strategic partnership with China's Hawtai Motor (03/05/2011)
- The marriage between SAAB and Hawtai (03/05/2011)
- Saab to Sell Stake to Hawtai Motor Group (03/05/2011)
- Saab Automobile enters agreement with Hawtai Motor Group on strategic partnership (03/05/2011)
- Saab saddles up with Chinese automaker Hawtei (02/05/2011)
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