Following reports that a deal with Chinese investors has fallen through and that the company is headed for bankruptcy, Saab today released this statement:

Swedish Automobile N.V. (Swan) and Pang Da Automobile Trade Co., Ltd (Pang Da) have taken notice of media reports questioning the validity of the partnership agreements between Swan, Saab Automobile AB (Saab Automobile) and Pang Da after Saab Automobile entered into voluntary reorganization. Swan, Saab Automobile and Pang Da underline that these reports are based on a misunderstanding.

So relax – Saab isn’t going anywhere… for now.

- By: Roman Bronfenbrener