Update on Saab Automobile

By Logan Utsman on Monday, June 27th, 2011

A few days ago, Swedish Automobile N.V. released a statement saying that they were unable to obtain the short term funding to pay its employee’s wages. Fortunately, that has changed due to a 13 million Euro purchase by a Chinese company for Saab vehicles. The purchase was for 582 units and the full payment should be received later this week. This will give Swedish Automobile N.V. (formerly Spyker Cars N.V.) the funds to pay its employees.

“I am pleased to announce this agreement, as it secures part of the necessary short-term funding for Saab Automobile and allows us to pay our employees’ wages before the end of this month,” said Victor Muller, CEO of Swedish automobile N.V. and Saab Automobile. As discussion continues with outside parties for additional funding, Saab is still not at 100 percent production. Hopefully soon, they can work with other companies like Pang Da to make Saab cars move once again.

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Saab Pictures