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Saab: China’s Pang Da & Youngman to invest $7.5 billion. UPDATED

Saab: China to invest $7.5 billion Update: We have now been told by Saab that Pang Da and Youngman are to provide €50 million immediately and €600 million for short to medium finance. Funding for the revised business plan and provide long-term financial stability the new Chinese owners have also budgeted funding for the planned expansion of Saab Automobile’s portfolio and additional operations to be set up in China There will be a reduction of 500 in the employee numbers. Sales targets for 2012 of 35-55,000 cars and 2013 of 75-85,00 and long-term of 200,000 cars a year Interestingly, Saab says that ‘Saab Automobile has not received the funds from Pang Da and Youngman that have been committed for today.’ Oh, well. Although the deal which will see Saab sold to China’s Youngman and Pang Da is still subject to a raft of approvals – Swedish Debt Office, EIB, GM, Chinese Government… – it seems the Chinese have big plans to invest up to $7.5 billion in Saab in the coming years.

Mini will bring John Cooper Works World Championship 50 to the United States

Mini USA has confirmed that it will bring a limited number of the John Cooper Works World Championship 50 to the U.S. market after all. Previously, the company said that it would produce 250 of the hatch-based special editions and distribute them only in Europe.

Ten notable Saab models from history--the AutoWeek list

Technical specifications provided by Saab media On December 15, 1989, General Motors announced that it intended to buy 50 percent of Saab Scania's car business and to form a new company, Saab Automobile AB. Twenty years later, GM confirmed that it has a tentative agreement to sell Saab to a group led by Swedish supercar maker Koenigsegg Automotive. Here is a look at 10 notable Saabs: 1986 Saab 900 Convertible 1.