Just when you thought the lights were dimming for good over at Saab, the Swedish automaker gets a(nother) lifeline. Reuters reports the company has received a last-minute payment from Chinese partner Youngman. A Swedish daily newspaper has said Youngman handed over around $5 million to cover tax expenses and that a further payment of $26.43 million is scheduled to show up on December 14 to take care of unpaid salaries. Youngman will reportedly also pay Saab a further $13.18 million by the end of the year.

It's unclear whether the cash infusion will persuade Swedish courts to continue to protect Saab from creditors seeking payment from the ailing automaker. Saab has enjoyed government protection since finances dried up earlier this year, and the courts are set to rule on whether or not that protection should continue on Friday.

An administrator within Saab has applied to have the company's creditor protection removed on the grounds that the automaker no longer has any funds. Saab has responded by requesting that said administrator be removed from the proceedings. The courts are set to hand down a ruling one way or the other on December 16.


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  • 14 Comments
      guyverfanboy
      • 3 Years Ago
      Holy crap! Saab may make it into 2012!
      Evan Hayden
      • 3 Years Ago
      Now that's good news. I hope they can struggle through the rest of the lean times, and make a real comeback.
      zzzzzz
      • 3 Years Ago
      Who is this young fellow with all the cash?
      • 3 Years Ago
      [blocked]
      space
      • 3 Years Ago
      insert ymca song...
      HH
      • 3 Years Ago
      So Saab survives, again, for a while at least. It's sad that despite such a display of tenacity, they just can't find their way to building cars again. Come on GM, Youngman, or whoever. There's a new 9-3 inside Saab right now. I want to see that car.
      dragonrage1191
      • 3 Years Ago
      Hey I know a way for SAAB to get money! Write this whole situation in a Book, should be a top seller.
      IBx27
      • 3 Years Ago
      When SAAB's newest cars are warmed over models from '08, is there any reason for them to be around? They lost their opportunity to die with dignity, so now they must simply die. I don't hate SAAB, but there's nothing redeeming about them, and I'd rather see a good brand go out than see them cannibalized by the chinese. You think a rebadged Trailblazer was bad? Wait until you see the rebadged geery cool grand royal.
      • 3 Years Ago
      [blocked]
      JonZeke
      • 3 Years Ago
      Liquidation might be good, not at all for the thousands of employees and families affected of course; but if someone can end up with the rights to the Saab brand name maybe it can be resurrected some day with products worthy of the heritage.
      Xedicon
      • 3 Years Ago
      IF SAAB makes it, they'd better have some of the greatest products of all time in the pipe to recover. They never were particularly good looking (at least to me) but they were the most confused lineup I think I've ever seen. Are they lux cars? No... Are they high value cars? Not really, can get more bizang for the buck elsewhere... Class leading features then? No... And yet, they aren't bad cars, just cars without a home so to speak. SAAB, needs to target their line more clearly and up the value equation a bit, that alone could move more sheet metal. Course all this could easily end up a moot point anyways.
      • 3 Years Ago
      [blocked]
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