Saab restarts production
The carmaker halted production on 6 April, leaving Dutch owner Spyker cars looking to find new financing. A deal with China's Hawtai Motor Group Company Limited fell though after the firm failed to get shareholder approval. Just days later, Chinese car distributor Pang Da Automobile signed a deal to pay €65m for a 24% stake.
Saab currently has a backlog of over 6,500 cars and has a total order bank of 8,100 cars, of which 1,300 cars were ordered by Pang Da Automobile, which paid €30 million up front.
The carmaker says it's planning to increase the daily production rate in the coming weeks in parallel with the full re-establishment of the supply chain.
Victor Muller, Saab chairman, said: 'This is a great day for our company and it is great to see the plant running again. We have gone through a rough patch in recent weeks, but Saab is back in action again. I would like to express my deep gratitude to our fantastic suppliers who have worked so hard with us to make this happen, and to our loyal employees who have constantly stood by our side.'
The first cars to roll off the assembly line were a silver Saab 9-5 Aero XWD and an orange Saab 9-3 Convertible Independence Edition.For more of the latest industry news, click here.