“Saab deal still possible” says Victor Muller

From UPI.com

aab Chief Executive Officer Victor Muller said Chinese authorities informed him a deal with Pang Da was still possible.The National Development and Reform Commission in China needs to approve major deals between foreign and Chinese companies and it has been reported that companies can submit applications for one deal at a time, the Stockholm News reported Tuesday.

Saab had already had a deal with Chinese car manufacturer Youngman submitted for review. This would, under the circumstances, derail the new deal with Pang Da.

But Muller said he has heard directly that the deal with Pang Da is still viable, the newspaper said.

Dutch company Spyker Cars purchased Saab from General Motors Co. in 2010, but the company has been under severe financial stress. Production has been halted several times in recent months while the company seeks to work out long-term financing in order to pay subcontractors, who have stopped making deliveries.

Ash

Ash came to China at 18 on a whim and never left. Some 10 years later he collected a degree and a family along the way and now focuses his time on watching the Chinese car industry develop. He has witnessed the market change from being minor backyard market in to the world's biggest and most important market for all car manufacturers. You can contact or connect with him via Linkedin by clicking the 'Website' link.