Saab News Stockholm: Pang Da application filed with national debt administration.

The new Saab partner in China, the auto retailer Pang Da, is putting pressure. This afternoon, an application for Saab partnership has been filed with the Swedish Imperial Debt Administration in Stockholm.

Pang Da would like to invest 65 million euros in Saab and acquire 24% of the car manufacturer. This morning, the media reported that Pang Da is in talks with the NDRC in Beijing about this very topic. The formal requirements for becoming a partner have been initiated in China and Sweden. The agreement is also needed by the EIB, the Swedish Government and GM.

The Pang Da delegation comes to Trollhättan on Friday to witness the start of production. Pang Da will decide after the appointment in Sweden whether another 600 - 650 Saab will be ordered for € 15 million. Last week, 30 million had already been transferred to Sweden for new Saab.

Text: tom@saabblog.net