Saab is back in the business of making cars again -at least for now- almost two months after production came to a halt on April 6 when the company’s suppliers stopped deliveries of parts in protest over unpaid bills. The Swedish company was able to restart production after receiving €30 million (US$42.8 million) in advance on a deal it has signed with Chinese car distributor Pang Da Automobile.
The China company’s CEO, Mr. Pang Qinghua, visited the Trollhättan factory today together with CEO and Chairman of Saab Automobile, Victor Muller, and witnessed the first vehicle to roll off the assembly line. Saab said around 100 cars were built today but plans to “increase the daily production rate in the coming weeks in parallel with the full re-establishment of the supply chain”.
Commenting on the restart of manufacturing at the Swedish plant, Victor Muller said:
“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.”
A Saab spokesperson said that the automaker has to fill around 8,100 orders including 1,300 cars ordered by Pang Da Automobile as part of the rescue deal. Under the agreement, the Chinese company paid €30 million for the purchase of the 1,300 cars and will buy a second batch of vehicles for €15 million within the next month. In addition, Pang Da Automobile will take a 24 percent stake in Saab’s parent company Spyker for €65 million and establish a joint-venture for distributing cars in China.
The China company’s CEO, Mr. Pang Qinghua, visited the Trollhättan factory today together with CEO and Chairman of Saab Automobile, Victor Muller, and witnessed the first vehicle to roll off the assembly line. Saab said around 100 cars were built today but plans to “increase the daily production rate in the coming weeks in parallel with the full re-establishment of the supply chain”.
Commenting on the restart of manufacturing at the Swedish plant, Victor Muller said:
“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.”
A Saab spokesperson said that the automaker has to fill around 8,100 orders including 1,300 cars ordered by Pang Da Automobile as part of the rescue deal. Under the agreement, the Chinese company paid €30 million for the purchase of the 1,300 cars and will buy a second batch of vehicles for €15 million within the next month. In addition, Pang Da Automobile will take a 24 percent stake in Saab’s parent company Spyker for €65 million and establish a joint-venture for distributing cars in China.
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→Saab Restarts Production at its Trollhättan Factory
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