Pang Da

Aw, Snap: Spyker Sues GM For Making Saab Go All Bankrupt
Aw, Snap: Spyker Sues GM For Making Saab Go All Bankrupt

The Saab story would be hilarious if it weren't so heartbreaking. The latest news? Saab's current parent, Spyker, is suing the company's former parent, General Motors, for standing in the way of Saab's adoption by a third parent (China's Youngman) and thereby forcing Saab into bankruptcy. If you've...Read More»

2011 Saab 9-5
GM Says 'No' To Saab Sale: We Recap The Saga's High Points Up To Today

The long, strange, saga of Saab may finally be coming to a close. Even though there's a shaky deal with Chinese investors in the works, GM has said that it will block any sale of Saab that involves the sharing of GM technology. As a result, Saab's reorganization administrator is once again pushing...Read More»

2011 Saab 9-5
Saab Starts A New Chapter, But How Long Will It Be?

On Friday of last week, struggling Swedish automaker Saab signed a memorandum of understanding with Chinese partners Pang Da and Youngman. The MOU essentially sells Saab to its Chinese partners for the bargain-basement price of $142 million. That investment, however, is only the first step on what...Read More»

2011 Saab 9-5
Saab Sold To Chinese Investors, But Will Beijing Approve?

The strange saga of Saab has taken another hairpin turn this morning: in a short post to its website, Saab says that Chinese firms Pang Da and Youngman will now purchase 100% of the company. But the three parties still have a few hoops to jump through, including getting authority from Chinese...Read More»

2011 Saab 9-5
Saab Ends Deal With Pang Da & Youngman: The End Is (Probably) Near

Saab fans, we have some bad news: the automaker has cancelled its agreements with Chinese firms Pang Da and Youngman. As a result, Saab's future seems a little dimmer and grimmer. If you've been following this story, you know that Pang Da and Youngman have been the only investors willing to give...Read More»

2011 Saab 9-5
Saab's Chinese Suitors Bail, Court Asked To Pull The Plug

Yesterday, Saab hit the snooze button and dreamed of survival a bit longer, thanks to a series of loans from North Street Capital totaling $70 million. That isn't nearly enough to keep the brand afloat, though, and the company has been banking on investments from China for its long-term stability...Read More»

2011 Saab 9-5
Saab Files For Bankruptcy Protection; Will China Save The Day?

Saab has had more than its share of troubles the past few years, and the company's failing finances have been headline fodder for weeks. So it should come as no surprise that earlier today, the company filed for "voluntary reorganization" with the District Court in Vänersborg, Sweden. Critics...Read More»

2011 Saab 9-5
Saab Says It's On, But Will Pang Da Eat, Shoot, and Leave? #YouTellUs

Saab has been on the brink of ruin for years, but each time it looks like the end is near, it seems to get a stay of execution. Yesterday that stay of execution came from a deal with Pang Da Automobile. The deal that will get cash for Saab to build three new model lines is said to be finalized, but...Read More»

2011 Saab 9-5
Will Pang Da Eat, Shoot, And Leave Saab? #YouTellUs

"Saab is dead." "Saab is alive." Those are two sentences we've read way too many times in the last few years. For now, Saab has secured enough cash to pay employees. It raised $40 million by selling off property, the day before it received an order for 582 vehicles from a mystery Chinese party. The...Read More»

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