Reports from Sweden indicate that Saab will return to limited production on Friday, May 27, thanks to a cash infusion from Chinese auto distributor Pangda.
Saab will ramp up production slowly, with a goal of producing 100 cars on Friday instead of the usual 230 to 240 vehicles produced.
Saab’s vice president of purchasing and manufacturing, Gunnar Brunius, told Swedish business newspaper Dagens Industri, “We have decided to get going on Friday and we are going to do everything we can to get this moving.”
Brunius’ comments were not confirmed by Saab, and a long-term solution to the automaker’s financial woes is still pending. Pangda has offered up to 110 million euros (roughly $155 million) for a deal that would ultimately pave the way towards Chinese manufactured Saab automobiles.
The deal is still pending regulatory approval in both Sweden and China, but Pangda’s recent payment of 30 million euros ($42.3 million) is enough to restart Saab production.