Saab receives $15 million order from Pang Da Automobile
03 Jun 2011|3,084 views
Pang Da Automobile had previously made an order of 1,300 cars from Saab for a sum of €30 million, and has now given the financially-troubled Swedish carmaker a further boost by placing another order of 630 cars at a cost of €15 million. Saab had recently emerged from an eight-week shutdown in production due to disputes over unpaid bills to suppliers.The move is part of a bigger deal in which Pang Da will eventually acquire a 24 per cent stake in Saab’s parent company Spyker Cars for €65 million. Saab said that, like that first order, the latest deal will see Pang Da will pay the additional €15 million order up front with the funds expected to be received by the end of this week.
Saab and Spyker CEO Victor Muller said the new order proves that the Swedish automaker has found the “right partner” in Pang Da. Muller added that he looks forward to the next step in the business partnership between the two companies “when we set up joint ventures for distribution and, at a later stage, production in China together with a still-to-be-named manufacturing partner”. Pang Da Automobile’s CEO and Chairman Pang Qinghua added that his company made “the right decision in entering a partnership with Spyker and Saab Automobile.
Source: Saab
Pang Da Automobile had previously made an order of 1,300 cars from Saab for a sum of €30 million, and has now given the financially-troubled Swedish carmaker a further boost by placing another order of 630 cars at a cost of €15 million. Saab had recently emerged from an eight-week shutdown in production due to disputes over unpaid bills to suppliers.
The move is part of a bigger deal in which Pang Da will eventually acquire a 24 per cent stake in Saab’s parent company Spyker Cars for €65 million. Saab said that, like that first order, the latest deal will see Pang Da will pay the additional €15 million order up front with the funds expected to be received by the end of this week.
Saab and Spyker CEO Victor Muller said the new order proves that the Swedish automaker has found the “right partner” in Pang Da. Muller added that he looks forward to the next step in the business partnership between the two companies “when we set up joint ventures for distribution and, at a later stage, production in China together with a still-to-be-named manufacturing partner”. Pang Da Automobile’s CEO and Chairman Pang Qinghua added that his company made “the right decision in entering a partnership with Spyker and Saab Automobile.
Source: Saab
The move is part of a bigger deal in which Pang Da will eventually acquire a 24 per cent stake in Saab’s parent company Spyker Cars for €65 million. Saab said that, like that first order, the latest deal will see Pang Da will pay the additional €15 million order up front with the funds expected to be received by the end of this week.
Saab and Spyker CEO Victor Muller said the new order proves that the Swedish automaker has found the “right partner” in Pang Da. Muller added that he looks forward to the next step in the business partnership between the two companies “when we set up joint ventures for distribution and, at a later stage, production in China together with a still-to-be-named manufacturing partner”. Pang Da Automobile’s CEO and Chairman Pang Qinghua added that his company made “the right decision in entering a partnership with Spyker and Saab Automobile.
Source: Saab
Latest COE Prices
April 2025 | 2nd BIDDING
NEXT TENDER: 07 May 2025
CAT A$99,500
CAT B$117,003
CAT C$65,001
CAT E$118,001
View Full Results 
Thank You For Your Subscription.
