Saab which is now facing a financial crisis will probably be saved by executing an agreement with China manufacturer, either Youngman Automobile Group, Great Wall Motor or Juangsu Yueda Group.
The agreement to be sealed allows Saab to get financial funds to cover the cost of production and financial problems due to the economic downturn of automotive market recently. At the same time, Saab will also enter the largest automotive market in the world, China.
Due to production problems now, Saab will most likely no longer to maintain its sales target of 80,000 units this year. The parent company of Saab, Spyker recently announced losses worth 79 million Euro in the early quarter of this year, compared to profit of 6.96 million Euro in the early quarter of last year.
According to Spyker CEO Victor Muller, they have been getting alternatives to fund their companies for short and medium term investment, including discussions with Chinese car manufacturer. Sweden’s Debt Office, and General Motors have already approved the Russian businessman Vladimir Antonov plans to invest a sum of 30 Million Euros to fund the company.
Looking at Youngman’s interest of Saab company, maybe they plan to use Saab DNA to their Proton platform car, who knows.
