Spyker Cars to change name, shift focus

Spyker Cars is changing its name to Swedish Automobile N.V., and its new Chinese partner, Pang Da, is waiting for authorities to approve the investment in Spyker and Saab.

Known for more than a decade as a producer of exclusive muscle cars, Spyker sold off its sports-car business in February to focus on Saab. The company bought the Swedish automaker a year ago when General Motors was on the verge of shutting Saab down.

Victor Muller, CEO of Spyker and Saab Automobile, said he is confident that Pang Da will get the regulatory approvals needed to formalize the deal, which will begin the distribution and subsequent manufacturing of Saab vehicles in China.

By Michelle Koueiter