Saab restarts production at its Trollhättan plant in Sweden with an initial run of 100 units on Friday. By Monday production will be back to a normal 218 units per day.
Swedish automaker Saab has resumed production today after a long delay due to a lack of operating capital that threatened to topple the company.
Production was restarted at Saab's production plant in Trollhättan, Sweden, on Friday where an initial batch of 100 cars will be rolled off the assembly line. By Monday production will be back to a normal 218 units per day. On hand were Victor Muller, CEO of Saab, as well as Mr. Pang Qinghua, Chairman and CEO of Pang Da Automobile, the Chinese car distributor which has invested in Spyker Cars, owner of Saab, and saved the Swedish automaker.
The deal brought Saab a much needed €30 million in cash up front, in exchange for 1,300 vehicles for a Chinese automaker to distribute in China. That firm, Pang Da Automobile,would receive a 24 percent stake in Dutch-based Spyker Cars and an additional batch of Saab vehicles to distribute in China should the €110 million deal be approved by various government parties.
The first cars produced were a silver Saab 9-5 Aero XWD and an orange 9-3 convertible Independence Edition.
The production plant has every reason to get busy now, given the back order of around 8,100 vehicles it must produce, which includes the 1,300 cars for Pang Da Automobile.
"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," said Muller.