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Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED
Mon, 31 Oct 2011Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.
Stobart To Keep On Trucking In £280M Sale Deal
Fri, 07 Mar 2014FANS of the well known trucking business Eddie Stobart might be surprised to learn that the company has been sold. However, the iconic name won't vanish from the nation's roads despite the £280 million sale to investors. The business, which employs around 5,000 people and operates 2,300 vehicles, will be led by the founder's youngest son, William Stobart.
Saab 'developing diesel hybrids' to rival PSA's
Mon, 01 Nov 2010Saab has been caught testing a 9-3 with a diesel hybrid engine, according to press reports in Sweden. It seems that France's PSA won't have the diesel-hybrid market all to itself. A reporter from Automobil magazine spotted a 9-3 prototype refuelling at a petrol station in Trollhattan as he returned a test car to the factory.