Saab gets more cash from China partner

Saab has received another cash boost from its new China partner Pang Da with an additional order for 630 cars, worth 15 million euros or $21.7 million at current exchange rates.

The order comes on top of an order for 1,300 cars worth $43.3 million (30 million euros) received by Saab from Pang Da in May.

The Chinese company will pay in advance for the order and delivery of the vehicles will start in the third quarter, Saab said.

The order follows a visit to Saab's factory in Trollhattan last week by senior Pang Da representatives, headed by Chairman Pang Qinghua. They watched the restart of Saab production after an almost two-month break when the automaker was pushed to the brink of collapse after it ran out of cash to pay suppliers.

By David Jolley- Automotive News