New investment, loans to help Saab move forward with 9-1 development
Saab’s recent partnership with Chinese SUV maker Hawtai will allow room for fresh investment to move on with the development of future models likes the 9-1. Hawtai has invested 150 million Euro in the Swedish brand’s parent, Spyker. The investment followed a 30 million euro loan from existing investor Gemini Investment Fund.
That has generated enough cash for Saab to keep going with its day-to-day operations, which recently suffered with a halt in production.
Saab chairman Victor Muller told AutoCar that the brand hopes to kick-start the development of the new 9-1 mini, ‘a car we so eagerly want.’ Saab is already talking to BMW AG to buy the Mini brand’s outgoing platform. It also talking to BMW to provide engines for future models.
Muller says that other partnerships like the one with BMW are in the works.
– By: Omar Rana