Saab’s CEO says they aren’t dead yet, may secure short-term financing to fix

Saab CEO Victor Muller

Saab’s future has been very grim with word bouncing around that the Swedish brand may have to file bankruptcy and undergo restructuring once again since they’re having trouble paying their dues to their parts suppliers.

However, according to some reports, Saab is apparently very close to securing some short-germ financing from Chinese investors, which is what Saab needs to get back on their feet.

Saab’s Chairman Victor Muller said that the brand is considering reorganizing anyway to avoid any involvement from creditors. Additionaly, Muller also said that he will be signing investment deals with Chinese distributor Pang Da Automobile Trade Co. and carmaker Zhejiang Youngman Lotus Automobile Co. However, despite these words, if anything was to go through, Saab’s Chinese investors won’t be able to complete the deal until October.

“We will not rule out anything,” Muller said. “We are focused on a solution, and if the collection agency moves forward we have to protect ourselves.”

– By: Chris Chin

Source: AutomotiveNews


Chris Chin

Chris Chin is the Editor-In-Chief of egmCarTech and is a regular contributor to Automobile Magazine.

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