China’s Pang Da Places a New €15 Million Order for Saab Vehicles

Chinese distributor Pang Da Automobile is pumping more cash into Spyker NV's ailing Swedish unit Saab by placing a new order for 630 vehicles valued at €15 million or US$21.5 million. This latest order comes after an earlier one last week for 1,300 cars worth €30 million (US$43.2 million) and is part of a broader deal in which Pang Da agreed to buy a 24 percent stake in Saab’s parent company Spyker for €65 million (US$93.5 million).

The Swedish automaker said that as with the first order, Pang Da will pay the additional €15 million order up front with the funds expected to be received by the end of this week. Delivery of the vehicles ordered by Pang Da will start in the fall of this year.

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Saab Returns from the Dead…Again, Restarts Production at its Trollhättan Factory

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”.

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What Lies Ahead in Saab’s Future?

Saab is in trouble. With mounting debts and limited capital investment, the Swedish company is a prime candidate to go the way of the dinosaurs. The troubled automaker has not built a single vehicle since the 1st of April, and a much touted deal with China’s Hawtai Motor Group has fallen through. They did however sign a Memorandum of Understanding (MoU) with another Chinese company called Pang Da Automobile Trade Co. Ltd, earlier this week, but we will have to wait and see if the deal goes through.

In light of this, I’ve thought up four plausible (though unlikely) scenarios for Saab. These range from the hugely cynical all the way to the brazenly optimistic. After all, isn’t it better than Saab has some future rather than no future at all? Without further ado, here are your options:

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Saab’s 900 / 9-3 Convertible Turns 25 this Year

This year marks the 25 anniversary of Saab’s Convertible model that was first launched under the 900 nameplate and later on, the 9-3 moniker, which is still used today. And while the Swedish firm’s current financial woes don’t allow for a more appropriate celebration, Saab released some key facts and figures on its drop top model.

The convertible’s history started in 1983 at the Frankfurt Motor Show, where Saab unveiled a new concept model with a powered soft-top based on the 900 liftback. After gauging the public’s reaction, Saab decided to introduce a production version of the four-seater model, which was built by Finland’s Valmet Automotive.

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Saved by Antonov: Saab Sells Production Facilities to Russian Banker to Get Cash

The Swedish government offered Saab conditional backing for a deal to free up cash for the company (see previous story here), whose production lines have been stopped for two weeks as Saab didn't pay suppliers. "We have decided to allow the Debt Office to conclude an agreement with Saab," said enterprise minister Maud Olofsson during a news conference on Friday.

The government has approved a proposal from the Debt Office to allow Saab to sell real estate, including the production plant, to Russian financier Vladimir Antonov and then lease it back from him. The minister said this deal would bring €30 million to Saab in the first phase, although the real estate was worth much more than that.

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Saab Roller Coaster Continues as Cash Gets Tight

Saab just can't seem to catch a break. After moving from the General's formerly overcrowded pocket into the hands of Spyker, the once-quirky brand is now doing all it can to bring production back online after failing to pay suppliers.

The gist is this: Saab received 400 million Euros (~$580 million) from the European Investment Bank so it could keep on ticking. Sweden guaranteed the loan, meaning whatever Spyker's resolution calls for must get the go-ahead from the Man.

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SAAB CEO Jan Åke Jonsson to Retire, Victor Muller Takes Over Temporarily

Dutch automaker Spyker Cars NV announced on Friday that Saab Automobile’s Chief Executive Officer and President, Jan Åke Jonsson, has decided to step down from his position on 19 May, 2011. The company said that until a successor to the longtime Saab executive is found, Spyker Car’s CEO Victor Muller will temporarily assume the role of President and CEO of Saab Automobile AB in addition to his role as Chairman of the Board.

The 59-year old executive, who has worked for Saab for close to 40 years, took over the helm of the company in 2005 when it was still under the ownership of General Motors. Jonsson has been credited for playing a key role in the savior of Saab when the Detroit automaker wanted to close down the brand.

“I have been with Saab Automobile for almost my entire career of 40 years, of which almost six years as the head of Saab Automobile,” said Jonsson in a statement. “The last three years have of course been very demanding and forced me to focus on one thing only – my work. Now it is time for me to also spend some time on other things that had to stand back for my duties to Saab Automobile.”

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Saab Releases UK Pricing and Specs for 2012MY 9-3 Range

We had our first look at the modestly refreshed 2012MY 9-3 range at the Geneva Motor Show earlier this month, but today, Saab GB announced prices and specifications ahead of the UK launch next month.

The new model year brings some subtle exterior updates such as the restyled front bumpers, ‘ice block’ headlamps, a new grille, a Saab word mark that replaces badging on the chrome trim at the rear end and the addition of a boot-mounted spoiler for the sedan variants.

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