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Saab Finds Financial Partner

Saab has been trying for the past few months to find a partner to come in with them in hopes of saving the company. Those that are loyal Saab fans have been wondering for the past few years if Saab was going to be able to stay in the game, though the automaker seemed to be confident that they would be around for years to come. Though, those positive thoughts were missing this past month when the dealings with China's Hawtai Motors fell through, making people believe that Saab may be on their last legs. However, good news is here as Saab has announced that they have a deal with auto retailer Pangda, which is going to bring around $170 million to the Saab company to help the company in the end. 

Saab has been in trouble for the past three years since GM finally sold off the brand to the Dutch, Spyker Cars. However, be then the damage had been done. Spyker took over the company with high hopes, however, even after months of getting the company back to producing cars, they were finding that they simply could not pay their bills. In fact, by the end of it, many suppliers were refusing to supply them unless they were paid upfront first. Which is something that is rarely demanded in the auto world. It was during this time that Saab started the search for finding a partner that could fund them in order to get out of this hole of debt. 

But what many people are wondering is if the brand is going to be able to come back after such a devastating loss? Pangda is going to be able to get Saab out of so much debt. However, suppliers are still going to be wary of working with Saab given the past history, which could mean that the automaker has a huge road ahead of them that is going to be full of bumps and potholes to overcome.