Saab’s New Parent Gets a New Name

By Logan Utsman on Monday, May 23rd, 2011

The partnership with Spyker and Saab has been a long process that has required some special investors. The most recent being Pang Da Automobile, a Chinese vehicle manufacture. Pang Da has entered procedure discussions to obtain regulatory approvals for the investment into Spyker and Saab from the Chinese government and things are looking very promising.

In the process of acquiring support from Pang Da, Spyker has made the decision to change its name to Swedish Automotive N.V. Victor Muller, CEO of Spyker Cars and Saab Automobile, said, ”Based on our discussions with Pang Da we are confident that Pang Da will get the regulatory approvals needed to formalize the deal. I am very much looking forward to creating a strong business with Pang Da, initially in the distribution and subsequently in the manufacturing of Saab vehicles in China. What needs to be pointed out is that Pang Da’s advance payment and sales of imported Saab cars are not subject to approval from the NDRC. The first advance payment of EUR 30 million was received last Tuesday.”

Gallery

Saab Pictures