Saab’s inability to re-establish production because of unpaid bills is starting to reflect poorly on its owner, Spyker Cars. The Dutch company reported net losses of 72 million euros (around 201.2 million CAD) today for the first quarter of 2011.
In light of these results, Spyker execs admitted it is unlikely the automaker will reach its goals and that talks have been initiated with Chinese firms to see if they’re interested in investing in the Swedish manufacturer.
Without revealing their identity, President and CEO of Spyker Cars Victor Muller said he suggested alternate solutions to finance the automaker on the short- and medium-term, without rejecting other initiatives out of hand.
As we had reported previously, an investment from Russian businessman Vladimir Antonov is a plausible scenario. He recently got the green light from Sweden’s Debt Office and General Motors authorizing him to invest 30 million euros in Spyker Cars in exchange for a 29.9 % stake.
In addition, Bloomberg says sources revealed that an agreement with a Chinese partner would probably lead to a joint venture in which the investor would have the opportunity to distribute Saab products in China, currently the biggest market in the world.
In the meantime, Spyker has turned to its sponsors to raise the money needed to start production again and stop, or at least slow, the hemorrhage.
Source : Automotive News
In light of these results, Spyker execs admitted it is unlikely the automaker will reach its goals and that talks have been initiated with Chinese firms to see if they’re interested in investing in the Swedish manufacturer.
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| Saab 9-4X (Photo: Saab) |
Without revealing their identity, President and CEO of Spyker Cars Victor Muller said he suggested alternate solutions to finance the automaker on the short- and medium-term, without rejecting other initiatives out of hand.
As we had reported previously, an investment from Russian businessman Vladimir Antonov is a plausible scenario. He recently got the green light from Sweden’s Debt Office and General Motors authorizing him to invest 30 million euros in Spyker Cars in exchange for a 29.9 % stake.
In addition, Bloomberg says sources revealed that an agreement with a Chinese partner would probably lead to a joint venture in which the investor would have the opportunity to distribute Saab products in China, currently the biggest market in the world.
In the meantime, Spyker has turned to its sponsors to raise the money needed to start production again and stop, or at least slow, the hemorrhage.
Source : Automotive News