Vladimir Antonov Withdraws Proposal to Buy and Leaseback Saab Property

The ink has barely dried on Saab’s latest attempt to form a preliminary deal with China’s Pang Da Automobile and Youngman, and the Swedish company is faced with yet another problem as Russian investor Vladimir Antonov has withdrawn his proposal to buy and leaseback Saab property.

"The property sale is now being discussed with external investors," said Lars Carlstrom, Antonov's representative in Sweden. However, Carlstrom noted that the Russian banker was still interested in becoming a shareholder in Saab’s parent company Spyker Cars NV.

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Saab Signs Three-Way Deal with China’s Pang Da and Zhejiang Youngman Lotus Automobile

Lately, it seems whenever there’s a problem with production at Saab’s Trollhattan plant, the Swedish automaker’s parent company Spyker Cars N.V. announces a new deal with a Chinese company.

Today, Spyker signed a non-binding memorandum of understanding (MOU) with two Chinese firms, Pang Da Automobile Trade Co., Ltd (Pang Da) and Zhejiang Youngman Lotus Automobile Co., Ltd. (Youngman), which if approved by regulators, could see the company falling into the control of Chinese hands. We'll remind you that Saab had previously signed a deal Chinese firm Hawtai but it failed to go through Chinese regulators.

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Saab Temporarily Suspends Production Again while it Seeks Parts

The on-off production drama over at Saab’s Trollhättan facility in Sweden continues as the troubled automaker said Wednesday that it temporarily halted production due to a lack of components from its suppliers only two weeks after resuming making cars following a seven-week shutdown.

Saab said that it anticipated production hiccups in the start-up phase, as the supply chain still is not fully operational with some suppliers holding back until they get paid and others trying to re-stock.

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Saab Eyes Another Chinese Savior, Signs MoU with Pang Da Automobile Trade Co.

For the second time this month, and shortly after the break up in talks with the Hawtai Motor Group, Saab’s parent company Spyker Cars N.V. today announced that it has signed a Memorandum of Understanding (MoU) with a new Chinese company to provide fresh funds for the deeply troubled Swedish automaker. This time Spyker signed a tentative finance and import deal with Pang Da Automobile Trade Co., Ltd (Pang Da), said to be China’s largest publicly traded automobile distributor with over 1100 dealerships in the country. Read more »