Pang Da: We have not changed our mind about buying stake in Saab


Just as we thought Saab was going to be saved by Chinese company Pang Da Automobile Trade Co., things for the Swedish automaker started to fall apart once again. Saab said earlier this month that it has no idea when it will start building vehicles after shutting down production for the third time.

Following that statement, Saab said last week that it will be unable to pages to employees as it has not obtained the necessary short-term funding.

Nonetheless, Pang Da board secretary Wang Yin said the car dealer hasn’t changed its mind about buying a stake in Swedish Automobile NV, the owner of Saab.

“There’s no change to our previous plan,” said Wang. “Saab is having temporary financial difficulties and the problem isn’t fundamental.

– By: Omar Rana

Source: Automotive news