A Chinese company has placed an order to purchase 582 Saab vehicles with a total value of €13 million from Saab Automobile, offering the company a short reprieve from its financial difficulties.
The order will allow the beleaguered car maker to pay its employees’ wages and make partial supplier payments.
Meanwhile, Swedish Automobile and Saab Automobile are continuing discussions with several parties in the hope of securing additional short-term funding to restart production.
Commenting, Victor Muller, CEO of Saab Automobile and Swedish Automobile, said: "I am pleased to announce this agreement, as it secures part of the necessary short-term funding for Saab Automobile and allows us to pay our employees' wages before the end of this month. The management of Saab Automobile is deeply committed to the company and its employees.”
He continued: “We very much regret the current cash shortage which is causing undeserved hardship to all and we are working relentlessly to resolve the current situation. We hope to secure additional short-term funding, necessary to reach agreement with all of our suppliers to restart production, soon.”
Swedish Automobile—formerly named Spyker—is Saab’s Dutch parent firm. Spyker bought Trollhättan-based Saab from its then-parent company General Motors in January 2010.
