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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.
Fiat, Mazda to jointly develop roadster
Wed, 23 May 2012Fiat Group and Mazda Motor Corp. plan to develop and build a new roadster for the Mazda and Alfa Romeo brands, the companies said Wednesday. Alfa will launch its version of the roadster in global markets starting in 2015.
Support For Fuel Duty Pothole Plan
Fri, 12 Sep 2014MORE than four in five people would support a plan in which money raised from fuel duty was used to repair potholed roads, research has found. Support is highest in eastern England, Wales and Yorkshire and Humberside, according to a survey by the Local Government Association (LGA). The LGA said the Treasury got £33 billion a year from fuel duty, while the Government was spending just under £2 billion a year on maintaining and improving roads over the next five years.