How were the last days? Interesting, successful? In any case, there was positive tension in the Saab environment, finally again! The Stallbacka had a Chinese visit last Sunday. Chao Ma, the initiator behind Panda New Energy, was a guest at the factory. A personality with a remarkable background.
Chao Ma, the man who will buy 150.000 electric cars from NEVS through his leasing company, has collected an interesting portfolio of company investments. In addition to Hassun Asset, he is CEO of the listed China Innovative Finance Group based in Hong Kong. In the national film industry, Chao Ma is represented by H.Brothers and produces with Jackie Chan, among others. Ma is also building 20 new film palaces in China.
Scandinavian pearl in the portfolio of Chao Ma
A Scandinavian investment in which Chao Ma is involved has a big name: Bang & Olufsen. The Danes are a legend, they stand for great, Scandinavian design and high-quality listening pleasure. They have enchanted generations of audiophile customers, and B & O systems can also be found in higher-end vehicles. An interesting relationship that is solidified. Perhaps B&O will become an equipment option for new models from Trollhättan. Chao Ma, a big Scandinavian fan, as he says of himself, wants to work with NEVS in the long term. 150.000 vehicles are just the beginning. Critically asked: Reality?
Anyway, the answer to financing the billion dollar deal sounds so refreshingly easy that you might believe it. According to Chao Ma, Chinese (state) banks finance the leasing business at a very, very low interest rate. OK.
There are weeks when everything works. Bergman and Co. in Trollhättan will find out today when they leave the factory for the weekend. After Chao Ma's visit, there was a rain of money on the company's account. Shareholders Tianjin and SRIT transferred the final installment of $ 60 million. The shareholders have thus fulfilled their obligation, and with the advance payments from several projects, NEVS could pass as extremely liquid.
Is NEVS now Phoenix or Icarus? We can be kindly skeptical and wait and see what happens. The fact is that young, former Saab engineers are increasingly coming back to the Stallbacka. Good for Trollhättan, because the upswing is already visible here.
Trollhättan makes the Phoenix
The city was long written off, was considered a hopeless case. She suffered from the telltale of a dying automobile. Nobody would have wanted to bet on the future in recent years. Now Trollhättan makes the Phoenix. Just in time for the 100 year old city anniversary Saab City has become the fastest growing city in Sweden. The construction activity is not to be overlooked, and with 400 new citizens every year, the population will soon exceed the number of 60.000 inhabitants.
The upswing has its roots in Saab. Actually. The Trollhättan Pact, with which the Swedish state GM wanted to keep in the country, unfolds effect. Although GM has not kept its promises, and the work is (still) orphaned. But the connection to the west coast is perfect, by train or car you are fast in Gothenburg. Trollhättan has become a preferred residential suburb of the second largest city in Sweden.