Saab has announced it has restarted production at its facility in Trollhättan, Sweden. Production has been suspended since April 6 due to a lack of funds to pay its suppliers.
Around three weeks ago, Chinese auto manufacturing company Hawtai pulled the pin on a 150 million euro deal which would have seen the Chinese firm take 29.9 percent stake in Spyker Cars (owners of Saab), and allow Saab to resume production. This left Saab clinging to its final threads up until Pang Da came along to save the day.
Pang Da announced a couple of weeks ago that it would invest 45 million euro in Spyker Cars and Saab. The good news is the deal has been secured and Saab has finally been able to commence production once again and resume deals with suppliers.
According to reports, Saab has around 6500 orders waiting to be delivered, including 1300 orders made through Pang Da in China. Getting the production plant underway will allow Saab to finalise these in the next couple of weeks.
Saab boss Victor Muller recently announced,
"This is a great day for our company and it is great to see the plant running again. We have gone through a rough patch in recent weeks, but Saab is back in action again. I would like to express my deep gratitude to our fantastic suppliers who have worked so hard with us to make this happen, and to our loyal employees who have constantly stood by our side."