Saab to restart production on Aug. 9

Saab CEO - Victor Muller

Over the past few weeks, Saab and Swedish Automobile (formerly known as Spyker Cars) have been able to raise about 61 million euros ($87 million USD) in additional funding.

Saab announced yesterday that it aims to restart production at its Trollhaetten plant on Aug. 9. The good news comes after Swedish Automobile was given the Swedish government’s approval to a request to sell part of Saab’s property unit to a consortium of Swedish real estate investors,

Last week, Saab and Swedish Automobile signed a 28 million euro ($40 million) deal to sell 50.1 percent of Saab’s property unit, Saab Property AB, to a consortium led by Hemfosa Fastigheter.

Saab will get around 22.5 million euros at the closing of the deal.

Photo Copyright © 2010 Omar Rana – egmCarTech.

– By: Omar Rana

Source: Automotive News