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."


About the author
What do you think?
Show Comments


  (517) posted on 08.22.2012

Becoming a Swedish Automobile is much better in my own opinion. With the bunch of ups and downs, it’s better to hand over this car on a more established manufacturer.

  (502) posted on 06.15.2011

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.

  (619) posted on 06.13.2011

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.

  (334) posted on 06.10.2011

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.

  (340) posted on 06.9.2011

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.

  (329) posted on 06.9.2011

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.

  (702) posted on 06.9.2011

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.

  (460) posted on 06.9.2011

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.

  (518) posted on 06.8.2011

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.

  (815) posted on 06.8.2011

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.

  (1332) posted on 06.8.2011

I have noticed a growing popularity of Swedish car in the market. I think its better not to consider this car for its competitor seems better.

  (553) posted on 06.8.2011

Eew! I don’t like the face of this car for I though its kind of hideous! The tandem of the Saab and Spyker makes the car look not so great!

Car Finder: