As with any good breakup, the recent split between Saab and its Chinese suitors has birthed a bit of he-said, she-said. Automotive News Europe reports that Pang Da and Youngman have announced that their equity deal with the Swedish automaker is still valid even after Saab said that it was cancelling the arrangement. Saab accused both Chinese companies of failing to confirm or fulfill their commitments of interim funding while the automaker underwent government-protected restructuring.

Pang Da, meanwhile, has said that while it never signed an agreement for bridge funding Saab, the company still fully intends to continue to hold up its end of the bargain, including seeking the approval of the Chinese government for the deal. The company has already paid Saab €45 million (about $62M USD) in a separate vehicle purchase deal.

Youngman, meanwhile, notes that it has already paid an $11 million bridge loan. Both Youngman and Pang Da have indicated that they are still willing and able to help Saab with short and mid-term funding options.


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    • 1 Second Ago
  • 7 Comments
      languedoctor
      • 3 Years Ago
      Personally, I hope SAAB sticks around. I love those instrument clusters, and I've always like the joystick air vents. But I'm shallow like that. Anyway...the refreshed 9-5 is nice, but they still need better engine selection/price points. What they really need to give them a shot in the arm is a new 9-3. Whatever deal allows them to make that happen . . . that's the right deal. The odds are against them to start with, but they might have a prayer with a new volume model . . . and neither the 9-4 or 9-5 fit the bill.
      CarCrazy24
      • 3 Years Ago
      Dammit Saab, I'm a huge fan but even I am confused at where you stand now.
      ExoPlanet
      • 3 Years Ago
      Youngman? LMAO talk about NAME FAIL.
      tenspeeder
      • 3 Years Ago
      Pang Da will try to come off looking good by continuing the process knowing full well that the Chinese Gov't won't approval the deal. then Pang Da can smile and say 'OH So Sorry We Twied"
      • 3 Years Ago
      [blocked]