October 14, 2011 by Joey Wang
Swedish Automobile NV , owner of Saab Automobile AB, said Thursday it has received the first payment of EUR 11 million of a EUR70 million bridging loan from its Chinese partner Zhejiang Youngman Lotus Automobile Co., throwing a financial lifeline to the troubled car maker which is restructuring its operations under bankruptcy protection.
“We are now confident we have the money we need during the restructuring period,” said Gunilla Gustavs, spokeswoman at Saab Automobile.
October 6, 2011 by Tycho de Feijter
Geely Automobile Holdings, a unit of Zhejiang Geely Holding Group Co., said Thursday it has no interest in acquiring Swedish car maker Saab Automobile in response to a newspaper report on the matter.