Saab deal with Chinese partner collapses
Meanwhile, Saab is still in talks with the European Investment Bank to complete a $41 million loan drawdown. Saab is reportedly waiting on the green light to sell some of its property, since the land is currently used as collateral with the Swedish National Debt Office. The battered brand has secured a $48 million Swedish government loan to keep the doors open for the short term, and the automaker is reportedly still looking to strike a deal with Russian investor Vladimir Antonov.
Will the collapse of the Hawtai Motors deal lead to the final demise of the rope-a-dope automaker? We're not so sure – Saab's been something of a financial Houdini over these last 18 months, and the automaker appears to have deals cooking all over Europe. Either way, we're guessing that Priority Number One at Saab is finding a new Chinese partner to help secure the future of the company.
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