Saab, which halted production seven weeks ago due to payment dispute with suppliers, said it aims to restart its assembly lines next week. According to Gunnar Brunius, Saab’s production chief, the company is will start discussions with suppliers to sort out its debts and to negotiate future payment terms.

“Our ambition is to restart production some time next week, but it’s very hard to make a prognosis,” he said.

Cash-strapped Saab needs to make cars again to generate revenue.

China’s Pangda Automobile Trade Co Ltd, Saab and Spyker signed a Memorandum of Understanding where Pangda will rescue the Swedish automaker in a deal worth as much as 110 million euros ($155 million USD).

- By: Omar Rana

Source: Automotive News