That quote from Pang Qinghua…

Reuters came up with that one today:

An agreement between Saab and Chinese car company Pangda for an investment in Saab is no longer valid after the Swedish car maker entered bankruptcy protection, the Pangda chairman said on Wednesday.

Pang Qinghua was speaking to reporters on the sidelines of an industry forum in Chengdu.

Pang added that the Chinese side has not yet submitted a proposal to the Chinese government regarding the Saab deal.

Instantly there was a comment on that by Gunilla Gustavs (ttela.se):

– We do not understand at all what this might involve. We have met Pang Da as late as yesterday, and everything is on track. There must be some misunderstanding. There is something not right here, says Ms Gustav at Saab’s information department said.

Honestly I think that quote without context or even a question he answered that to it says nothing. If he wanted to express that the agreement is no longer binding but they are still working on it (which they are obviously doing right now) this quote is just non-relevant. I know that every news service is jumping on that right now but I’d really ask you to keep calm and carry on until we get some more information.

phermansson
Member
4 years 11 months ago

According to the radio VM has just messed P4 Väst and says the same thing as Gustavs, it’s a misunderstanding.

Coke is it
Member
4 years 11 months ago

…and with “messed” phermansson meant to say “texted” or “sent an sms” since VM certainly doesn’t need to get things more messed up right now 😉

phermansson
Member
4 years 11 months ago

Thankyou, svenglish that was. “Messa” is swedish slang for texted, so I messed up 🙂

Red J
Member
4 years 11 months ago

I think it is in line with the quote yesterday from a senior bureaucrat from the NDRC.

Without context white walls may look black.

TurboLamko
Member
4 years 11 months ago

I don’t know what to think anymore…

Peter, Sweden
Member
4 years 11 months ago

We don’t have to think at all until we’ve got some official words from Saab / PangDa / Youngman…

Audun
Member
4 years 11 months ago

+1

Baracuda
Member
4 years 11 months ago

I think the guys in THN are now asked to give a nice dress to the fat lady.

slant4
Member
4 years 11 months ago

I hate to say this, but this is very reminiscent of the Rover deal. They will be expecting SAAB to go bankrupt, and pick over what is left. I would love to be froven wrong, but never sure if you can trust the Chinnese

v4ever
Guest
4 years 11 months ago

+1

rune
Member
4 years 11 months ago
…and what exactly would Pang Da gain by “picking over what is left”? They have the largest dealer network in China. Do you expect Pang Da to suddenly start producing cars on their own, based on looted bits and pieces of technology? Youngman OTOH might benefit from choosing that route, but would suddenly find themselves in competition with many others having similar plans. And they have already had several opportunities to bury Saab. It is worth pointing out that TT is now casting new doubts over Pang Da’s letter to the appeals court — several weeks after it was worth… Read more »
Pedro
Member
4 years 11 months ago

If Phoenix, or at least some key components, are close to completion, then yes, it may have higher NPV to work over SAAB as a rotting corpse than to invest billions of SEK into an uncertain venture. All they need to do is do the math, which I’m sure they already did. The final outcome of this will reflect that math and that math alone; never forget that for Youngman/PaDang this nothing but business, and not a love affair like the one enthusiasts have over the brand.

Pedro
Member
4 years 11 months ago

To complete my comment: the bottom line is we all should just sit and wait. All of the rest is just noise.

KarlR
Member
4 years 11 months ago

To be honest who cares anymore. Its gone to long so at least I really dont care so much anymore. I see them as dead already. 🙁

Grumpy
Member
4 years 11 months ago

How about a couple of thousand in Trollhättan and surrounding towns?

Not Dead KarlR, Sinking but the hand is still above the surface and it is reaching for a helping hand. THe main question is there a hand there to take it?

v4ever
Guest
4 years 11 months ago

The Chinese are now standing by the side of pool with their arms folded, waiting for that last, big bubble.

If (and I’ll say that again.) IF it is true that all the documents have not been filed with the NRDC, it doesn’t matter if PangDa have cancelled the deal or not, the approval will not come in time to save the Re-Organistation & that I’m afraid, will be that.

johan
Member
4 years 11 months ago

This cannot be correct, can it? Bare in mind that Mr Pang himself wrote a letter of support for Saab that was filed in the second application for reconstruction (the one in the appeal court). If the agreement between Saab and Pang Da would have become invalid if a reconstruction was granted – why on earth would Mr Pang submit that letter in to the court? Doen´t make sense, not to me at least.

granne
Member
4 years 11 months ago

That is a valid remark Johan.

Grumpy
Member
4 years 11 months ago

Totally agree with you Johan, this does not make sense.

Probably too many Kan beis at the forum in Chengdu.

ThomasJ
Member
4 years 11 months ago

All newspapers knows/must remember this.
Hope they will stop writing BS soon.

ante
Member
4 years 11 months ago

Maybe the deal is invalid but the commitment to Saab is not. Then this is about the chinese wanting a a bigger part of the company.

ANA
Member
4 years 11 months ago

Yes my thoughts exactly. The thing about reorganisation is that it allows all parties to re-negoatiate – and let’s face it Saab is not in a strong bargaining position at the moment.

Smithy
Member
4 years 11 months ago
Why would the Chinese bail out from the deal when they earlier ordered 2 000 cars from Saab which, from my point of view, is an indication that they’re not waiting for bankruptcy. I mean, why would they buy these cars when they could’ve got so much more for a better price after bankruptcy? For the record, to hell with the fat lady, she can go backstage and hide! (I doubt she’ll listen, though…) Now, I am very fond of Saab, I own one myself (my very first car actually) and I like the way the company positioned itself, clean… Read more »
ANA
Member
4 years 11 months ago

Smithy
In a way Saab does have an up-sclaed version of Spyker’s factory – they haven’t made a car for a while either… Either way I would not recommend Spyker as a model for any company as it has lost hand over fist for every year of its life.

guy55
Member
4 years 11 months ago

I BY A SAAB CABRIO GRIFFIN IN APRIL,BUT I THINK WHAT MUST I DO? I AM DESPERATE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
i see only dark skys in the haven,here in belgium,nobody here can answer my question,not in SWEDEN,not in EUROPE!!!!!!!!!!!!! whats happend now??????????????

Red J
Member
4 years 11 months ago

guy55,
the convertible season is almost over, if you have a car, wait till you see flowers once again on the fields, and if you don’t have your griffin by then, try a plan B.
Till then, wait and relax.

elantiq11
Member
4 years 11 months ago
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