Saab Says it Can’t Pay Workers, Company’s Survival in Doubt

New clouds are forming over Saab as the automaker’s parent company, Swedish Automobile N.V., formerly known as Spyker Cars N.V., said on Thursday it will be unable to pay its 3,800 employees their wages because it has not yet obtained the necessary short-term funding.

Swedish Automobile said it and Saab “are in discussions with various parties” to secure short-term funding, including through a sale and lease-back of Saab’s real estate assets.

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Vladimir Antonov Withdraws Proposal to Buy and Leaseback Saab Property

The ink has barely dried on Saab’s latest attempt to form a preliminary deal with China’s Pang Da Automobile and Youngman, and the Swedish company is faced with yet another problem as Russian investor Vladimir Antonov has withdrawn his proposal to buy and leaseback Saab property.

"The property sale is now being discussed with external investors," said Lars Carlstrom, Antonov's representative in Sweden. However, Carlstrom noted that the Russian banker was still interested in becoming a shareholder in Saab’s parent company Spyker Cars NV.

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Saab Signs Three-Way Deal with China’s Pang Da and Zhejiang Youngman Lotus Automobile

Lately, it seems whenever there’s a problem with production at Saab’s Trollhattan plant, the Swedish automaker’s parent company Spyker Cars N.V. announces a new deal with a Chinese company.

Today, Spyker signed a non-binding memorandum of understanding (MOU) with two Chinese firms, Pang Da Automobile Trade Co., Ltd (Pang Da) and Zhejiang Youngman Lotus Automobile Co., Ltd. (Youngman), which if approved by regulators, could see the company falling into the control of Chinese hands. We'll remind you that Saab had previously signed a deal Chinese firm Hawtai but it failed to go through Chinese regulators.

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Saab Temporarily Suspends Production Again while it Seeks Parts

The on-off production drama over at Saab’s Trollhättan facility in Sweden continues as the troubled automaker said Wednesday that it temporarily halted production due to a lack of components from its suppliers only two weeks after resuming making cars following a seven-week shutdown.

Saab said that it anticipated production hiccups in the start-up phase, as the supply chain still is not fully operational with some suppliers holding back until they get paid and others trying to re-stock.

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Saab Eyes Another Chinese Savior, Signs MoU with Pang Da Automobile Trade Co.

For the second time this month, and shortly after the break up in talks with the Hawtai Motor Group, Saab’s parent company Spyker Cars N.V. today announced that it has signed a Memorandum of Understanding (MoU) with a new Chinese company to provide fresh funds for the deeply troubled Swedish automaker. This time Spyker signed a tentative finance and import deal with Pang Da Automobile Trade Co., Ltd (Pang Da), said to be China’s largest publicly traded automobile distributor with over 1100 dealerships in the country. Read more »

Saab’s Deal with China’s Hawtai Motors Collapses, Future Once Again Uncertain

Another day, another deal gone sour for Saab and its parent company Spyker Cars N.V. Today, less than two weeks after Saab announced an agreement with China’s Hawtai Motor Group that would have invested €150 million (US$215 million) into the company in exchange for a 30% stake, Spyker said that the deal has fallen through raising new doubts about the Swedish brand’s future.

“Since it became clear that Hawtai was not able to obtain all the necessary consents, the parties were forced to terminate the agreement with Saab Automobile and Spyker with immediate effect,” Spyker said in a statement.

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Spyker C8 Racing

The Spyder C8 Double 12R's first race was the 12 Hours of Sebring in 2002, though an accident prevented the car from finishing. It also participates in the 24 hours of Le Mans and several other endurance races. Since 2005 it has also participated in FIA GT races with a Spyker C8 Spyder GT2R.Image Credits - Spyker Spyker C8 Double 12S pushes

Spyker C8 Aileron Great Information

Spyker c8 aileron is a grand touring coupe for buyers who have too many ferraris alreadyhe c8 aileron coupe debuted at the 2008 geneva motor show, and the spyder was first seen at the 2009 pebble beach concours in california. But this car derived its design from the turbine, rather than the propeller.Spyker c8 aileron is a mid-engine, two-seater featuring a longer wheelbase (150mm) than spyker's