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Saab resumes production

Saab has restarted production at its Trollhattan plant in Sweden after securing short term funding from China’s Pang Da Automobile.

Production at the plant had stopped on April 6 after a “short term liquidity crunch” left vehicle parts suppliers left unpaid.

Pang Da has purchased a 24% equity stake in Spyker for €65 million and, separately, purchased €30m of Saab vehicles to be sold through its network of more than 1,100 dealerships in China.

Victor Muller, chief executive of Saab parent company Swedish Automobile NV (formally named Spyker), admitted the brand had been through a rough patch in recent weeks, but was now “back in action”.

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