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We knew something was going on when a Swedish newspaper reported that Volvo was looking into purchasing Saab from Spyker, but the deal didn’t exactly go down like they had stated. Volvo won’t be purchasing the Swedish automaker, but as of June 15, 2011, the Spyker/Saab pair will now be known as Swedish Automobile N.V. (SWAN) after both companies were purchased by the Chinese Pang Da Automobile (Pang Da). Pang Da gave Spyker new life by filling its veins with a €65 million investment for a 24 percent stake in the company. In a previous statement, Victor Muller, CEO Spyker Cars and Saab Automobile, said: "Based on our discussions with Pang Da we are confident about the possibility of Pang Da obtain regulatory approvals necessary to formalize the transaction. I am very eager to create a solid company with Pang Da, first in the distribution and subsequently in the manufacture of Saab cars in China. It must be stressed that the prepayment Pang Da and sales of Saab cars imported are not subject to approval by the NDRC. The first advance of 30 million has been received by Saab on Tuesday." .
12 comments: Spyker Cars becomes Swedish Automobile Though I have my doubts on this one, I really won’t say that much yet. We probably must have to wait and see until they have finalized the deal to think about it.
 As far as I know, they have said that the new management will still push through with the projects that are still being conducted by the company. Which ones they will be working on, I really don’t know.
 Hmm, this one would really be a challenge for Spyker. I think they still have some projects under development. I wonder how the new management would handle that.
 If they want to purchase or give more life to the Spyker, well that’s brilliant. I really don’t know Swedish Automobile that much but I hope the result is as perfect as it can be.
 Well, let’s just see how this one would actually end up. In the case of Volvo, I think Geely is actually doing a rather good job of managing it, as of now. I hope this also goes for Spyker.
 Well, Swedish car seems to be not so appealing for me. I never see their production stands out among the rest. However, I do hope that the design of Spyker and Saab would have a little changes since its management is new.
 The best description of this car, is it’s bloat loaded! I think the exterior is over designed, there are too many lights here and this butterfly wing doesn’t fit in this car.
 Well, that one would indeed be a rather odd name change, Swedish Automobile and yet they will be under Chinese ownership. I would agree that the Chinese are indeed becoming a major player here.
 Hmm, it seems that the Chinese are now becoming the life savers of the auto industry. If I can remember correctly, Volvo itself was purchased by Geely just last year.
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Posted on
08.22.2012 @ 02:51