Like a chicken with its head cut off, running aimlessly around looking for rime or reason, SAAB's running out of options.
SAAB, you'll recall, was alone, then with GM where it all but died, went to Spyker after much turmoil and many speculations and now, under heavy debt and with little hope, was looking for Chinese funds from Hawtai to complement a bank loan from the European Investment Bank.
This money, by the way, is necessary to finish up the Phoenix platform which will underpin a whole range of new SAABs. The amount required for this to happen is a cool 400 million Euros.
All seemed good until Hawtai failed to get the OK from all of its shareholders.
The SAAB saga continues.
Source: Autocar
SAAB, you'll recall, was alone, then with GM where it all but died, went to Spyker after much turmoil and many speculations and now, under heavy debt and with little hope, was looking for Chinese funds from Hawtai to complement a bank loan from the European Investment Bank.
This money, by the way, is necessary to finish up the Phoenix platform which will underpin a whole range of new SAABs. The amount required for this to happen is a cool 400 million Euros.
All seemed good until Hawtai failed to get the OK from all of its shareholders.
The SAAB saga continues.
Source: Autocar