In a second Chinese attempt to bail out Saab, Pang Da Automobile, China’s largest-listed auto distributor, has inked a distribution and manufacturing partnership with Spyker Cars, owner of the Swedish carmaker.
Pang Da will shell out up to 110 million $156 million for Spyker’s equity as well as an immediate inventory of Saab-branded vehicles, which it will sell through its network of distributors. The deal follows only days after an agreement for Hawtai Motor Group to buy a strategic stake in Saab collapsed.
“Our size, financial strength and competence in addition to our ability to move fast will be crucial to Saab’s success in China,” said Pang...
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