Cars
In his attempt to save Saab- again, and after having secured short-term cash of €30 million (US$44.6 million), Spyker Car N.V. CEO Victor Muller’s next move was to sign a strategic partnership with China’s Hawtai Motor Group. Under the agreement, Saab will receive a €150 million (US$222.5 million) cash injection while the two companies will form joint ventures for manufacturing, technology and distribution.
- China's Youngman And Pang Da Say Saab Deal Is Still On
Earlier this week, Saab announced that it was terminating the deal with Chinese companies Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co., since their bridge loan that would help the Swedish automaker survive in the short term...
- China’s Pang Da Places A New €15 Million Order For Saab Vehicles
Chinese distributor Pang Da Automobile is pumping more cash into Spyker NV's ailing Swedish unit Saab by placing a new order for 630 vehicles valued at €15 million or US$21.5 million. This latest order comes after an earlier one last week for...
- Saab Boss Victor Muller Hints At Us And Eu Distribution Of China's Hawtai Cars, Says Buyers Won’t Care About Safety
The ink on the deal / partnership between Saab and China’s Hawtai Motor Group has barely dried, but the Swedish automaker's chairman and Spyker CEO, Victor Muller is already making headlines again by hinting at the distribution of cheap Chinese...
- Saab Announces Strategic Partnership With China’s Hawtai Motor Group, Secures New $30 Million Loan
Spyker Cars NV and Saab president Victor Muller is pulling all the strings to kick start the Swedish automaker back into life after the company hit a cash crunch and was forced to halt production last month as suppliers refused to send parts citing lack...
- Spyker Cars Says Saab Won’t Meet Its Sales Target This Year, Now Talking With Chinese Companies For Funding
The roller coaster that is Saab has taken another turn, and unfortunately for the Swedish brand, the future doesn’t look so bright. In spite of a tentative agreement to let Russian banker Vladimir Antonov invest 30 million euros in Saab’s...
Cars
Saab Details Partnership with China’s Hawtai Motor Group
In his attempt to save Saab- again, and after having secured short-term cash of €30 million (US$44.6 million), Spyker Car N.V. CEO Victor Muller’s next move was to sign a strategic partnership with China’s Hawtai Motor Group. Under the agreement, Saab will receive a €150 million (US$222.5 million) cash injection while the two companies will form joint ventures for manufacturing, technology and distribution.
As a part of the deal, China’s Hawtai will invest €120 million (US$178 million) for up to a maximum of a 29.9 percent equity stake in Spyker on a fully diluted basis. Τhe remaining €30 million will be in the form of a convertible loan agreement with a 6 month maturity, an interest rate of 7% per annum and a conversion price of €4.88 per share.
Read more »- China's Youngman And Pang Da Say Saab Deal Is Still On
Earlier this week, Saab announced that it was terminating the deal with Chinese companies Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co., since their bridge loan that would help the Swedish automaker survive in the short term...
- China’s Pang Da Places A New €15 Million Order For Saab Vehicles
Chinese distributor Pang Da Automobile is pumping more cash into Spyker NV's ailing Swedish unit Saab by placing a new order for 630 vehicles valued at €15 million or US$21.5 million. This latest order comes after an earlier one last week for...
- Saab Boss Victor Muller Hints At Us And Eu Distribution Of China's Hawtai Cars, Says Buyers Won’t Care About Safety
The ink on the deal / partnership between Saab and China’s Hawtai Motor Group has barely dried, but the Swedish automaker's chairman and Spyker CEO, Victor Muller is already making headlines again by hinting at the distribution of cheap Chinese...
- Saab Announces Strategic Partnership With China’s Hawtai Motor Group, Secures New $30 Million Loan
Spyker Cars NV and Saab president Victor Muller is pulling all the strings to kick start the Swedish automaker back into life after the company hit a cash crunch and was forced to halt production last month as suppliers refused to send parts citing lack...
- Spyker Cars Says Saab Won’t Meet Its Sales Target This Year, Now Talking With Chinese Companies For Funding
The roller coaster that is Saab has taken another turn, and unfortunately for the Swedish brand, the future doesn’t look so bright. In spite of a tentative agreement to let Russian banker Vladimir Antonov invest 30 million euros in Saab’s...