Press Release: Pang Da Advances EUR 15 Million Order For Saab Vehicles By 17 Days

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Trollhättan, Sweden – Spyker Cars N.V. (Spyker) and Saab Automobile AB (Saab Automobile) today announced that Pang Da Automobile (Pang Da) has placed an additional order for 630 Saab vehicles. The order is valued at EUR 15 million and follows the successful visit to Saab Automobile’s facilities in Trollhättan last week by a number of senior Pang Da representatives, headed by Chairman and CEO Mr. Pang Qinghua.

The order comes on top of the 1,300 cars that Pang Da ordered for EUR 30 million and both orders are part of the broader tentative agreement between Spyker and Pang Da which was signed on May 16. As with the EUR 30 million order, Pang Da will pay the additional order up front and Saab Automobile expects to receive the funds this week. Delivery of the vehicles will start in the fall of this year.

Victor Muller, CEO of Spyker and Saab Automobile, said: “I am delighted that Pang Da, as previously planned, has ordered an additional 630 Saab vehicles. This not only shows the potential for the Saab brand in the Chinese market, but also that in Pang Da, we have found the right partner. I look forward to the next step in our business relationship when we set up joint ventures for distribution and, at a later stage, production in China together with a still-to-be-named manufacturing partner.”

Mr. Pang Qinghua, CEO and Chairman of Pang Da, added: “Our visit to Trollhättan last week has further strengthened our belief that we made the right decision in entering a partnership with Spyker and Saab Automobile. This additional order is the result of my firm conviction that Saab has the right product program for the Chinese market and our large distribution network will be an important asset in unlocking the potential of the brand.”

Sounds good 🙂

48 thoughts on “Press Release: Pang Da Advances EUR 15 Million Order For Saab Vehicles By 17 Days”

  2. I must say that this time I’m impressed by Victor.

    I had my disbelief when the new crisis started in April that VM once again could save Saab. He proved me wrong and for that I’m very thankful.

    Good work by VM and the whole team at Saab. You have all done a great job.

  3. Sounds Good?… kind of an understatement…
    Sounds absolutely brilliant!!!
    Keep the orders from China coming.
    …and on another note, VM’s bonus (not yet cashed), I know many people who have worked much less per SEK bonus than him – as soon as cash flow and liquidity crisis is solved, let him have it. Maybe he has time to take his family to a nice dinner, for once…

  5. Sounds VERY good! SAAB, PANG DA, VM and VA up! 🙂

    SAABlife is a good life!

    Cheers from Norway
    -Olav-
    Always on the longest road home when out there with my SAAB. Always!

  9. Good job and great news. Hopefully the cars will be delivered as schedueled and trust from Pand Dabeing strengthened by that. Then Saab can expand furthermore in China = more cars sold. Great Saab and VM!

  10. Great! Pang Da seem to be a positive partner!
    I wait eagerly for my 9-3 SC Griffin 119g CO2 diesel. They say
    maybe before midsummer!
    I Hope so.

  12. What an encouraging result. Many, many congratulations to VM and his team.
    Look forward to seeing snaps of a Chinese “Saab of the Week” in the coming months!

  16. Kudos to Pang Da for seeking the opportunity and following through with their $$$$. The 9-3 griffin looks good and should see Saab through to the next generation 9-3, in the interim Saab really need to address their list-retail price policy as massive discounting kills resale/residuals. It is unfortunate but some Australian motoring journalists belive Saab [in Australia] should be considered price wise alongside Skoda and Volkswagen.

  21. I am still worrying about the long term funding required from VA and its EIB/GM approval which has still not happened but short term this is very good news. I know it was an Option Pang-Da had-it’s great to see that they took it up. I’d be really interested to see the chinese sales figures in a couple of months from now!!

    • It will be more than a couple of months from now though Toby, they will probably start building Pang Da cars in a couple of months and then ship them. Not sure what you need to do for approvals and such for importing into China, but I know in Canada our cars took longer to get because we need an import certificate or something of that nature because GM had let it expire when they decided to forgo Saab. I think the folks at Pang Da know their market and potential, this is HUGE news though and makes you think that his what people were thinking was a “pipe dream” of 100,000+ sales per year in China, seem more and more like a reality. They do not seem to have any fear or doubt in selling Saabs and they haven’t even received their first car. This partnership looks better and better the more you digest it.

      • @jason in some chinanews it was said that the 9-5 is already approved for the chinese market (and also as environmental friendly 🙂 ) So they could begin selling as the first cars arrive – and i think as they have build the existing orders the first cars for china are on the line. I also think that they want to reduce stock in the US and so they give the china cars priority

  22. Very encouraging, hopefully more orders will follow! Now we just hope that they (Pang Da) as well as Mr. Antonov get approved as shareholders too. 🙂

  23. Wow, that’s really amazing. I knew that Pang Da would be impressed with the Saab factory (which is one of the most efficient and versatile in the world), but to immediately shell out another 15M bodes well for the future. It also looks that the wages in China will go up over the next couple of years. This is bad news for getting cheap stuff out of China, but means that more people in China will be able to afford more luxury goods.

  24. More good news related to Pang Da: 🙂

    The Saab dealer ANA in Trollhättan testified to how clearly the customers doubt started to drop when the plant started making cars again. Delivery Officer Henrik Ivansson describes how many customers who previously waited now clinched the deal.

    – It is absolutely afoot now. It was full rush on Friday, then it must be anchored in the home and cottage and finance companies. But when it works, it is easier. Then what did not work out is silenced down very quickly. We feel positive. People are more satisfied and happier and then everything goes much easier, says Henrik Ivansson.

    Source: GP.se

    To the Beijing News says Pang Da’s CEO Pang Qing Hua back at home that he was very pleased with the visit to Sweden. He was surprised at what he saw and said that the factory was much better than he expected.

    According to Chinese website Auto Sohu, he can not hide his enthusiasm, and when asked what he thought about his investment in Saab cars, he replied:

    – Great, great, great. I can say that Saab’s current situation is not so bad, the production circumstances is world class. Saab was not lying to us, said Pang Qing Hua.

    Saab will deliver the first 1300 cars to China this autumn.

    According to China Car Times, Chinese authorities have already approved the model 9-5 Aero, 9-5 Vector, and 9-5 Linear for sale. The three models are also considered as energy efficient and receive subsidies from the Chinese government.

    Pang Da’s CEO Pang Qing Hua has previously talked about the possibility of eventually selling 10 000 Saabs a year in China.

    Source: GP.se

    • That’s prety cool right? Here’s the China Car Times article:

      “Old Pang Returns from Sweden” is the headline of today’s Beijing news as Pang Qing Hua, the CEO of Pang Da Automobile Group, returns from his trip to Trollhatten where he visited the Saab factory.

      Apparently Pang Qing Hua was very satisfied with his investment in Saab – so much so that he was struggling to hide his excitement, when the Chinese automotive website Auto Sohu asked him what he thought about Saab his only reply was “Great, Great Great!”

      Pang Qing Hua was in Sweden with his own self assembled team to tour the Saab factory, testing facility and also talked with the workers.

      Pang Qing Hua went onto say “It could be said that Saab’s current situation is not that bad, the production facilities are world class, Saab did not lie to us”.

      Saab’s current production capacity is 150 units per day, Pang Da Group have bought roughly 1300 cars in their first order and expected to buy more, the first batch of Saab vehicles are expected to land at Chinese ports towards the end of June, furthermore the Chinese government has already approved the 9-5 Aero, 9-5 Vector, and 9-5 Linear for sales within China, these models will also receive a 3000rmb government subsidy for being energy efficient vehicles.

      • Jeff,

        the first batch of Saab vehicles are expected to land at Chinese ports towards the end of June

        Where did this come from? I was told that their cars were to be built closer to fall as they weren’t going to build until they had the proper approvals to import, kind of like what happened in Canada when GM let our import certificate expire and we had to wait for approvals. I also got an email from our importer yesterday that had said the Pang Da cars are not being built yet, so how they can think the first batch could hit their ports before the end of June is beyond me. This is huge news though that they have already placed the 2nd order and says a lot about Saab and how VM effectively communicated with the folks at Pang Da.

        • Chinese government has already approved the 9-5 Aero, 9-5 Vector, and 9-5 Linear for sales within China

          I did read this, I just don’t know how that could have happened so fast, we waited months for approvals here and I would have thought China would have taken longer on that process.

          • SAAB wanted to start before the Pang Da Deal with the sales (with CAITC) also in September – so they had worked on the approvals some months. But the 94x is another story

          • SAAB_Andee,
            Thanks for that update, just goes against what I was told yesterday, but that’s OK. I’m just hoping they get our 2 Indy Models done quickly and that none of these Pang Da cars slow us down too much, need them for summer selling.

          • @jason i hope you get your cars soon – I know canada is another story as the US- but there is really too much inventory on the lots in the US.
            For my home (Austria) only pre-griffin display cars on the lots – ordered cars have to be build and delivered -so the registrations were low this month. Also a low amount of 9-5 display cars at the dealers.

          • SAAB_Andee,
            Ours are all pre-Griffin 9-3’s as well. Canada placed initial orders and was very conservative in the order amounts and with only a handful of Convertibles. I would suspect now as I had to get a convertible from another dealer for a sold order, that we have none available now. Unfortunately the plant shut down happened just as dealers here were ready to order convertible stock. I have 2 customers right now alone that are waiting on convertibles and one has put money down on the Independence model and is eagerly awaiting it’s arrival. Sales numbers in Canada have been low and just as we’ve heard in the US and all over the world, a big part of that is awareness to the brand being alive.

          • I understand but now i have seen dealers without a 9-3 as display car- dealers sold their display models as the griffin should arrive . And the whole convertible business hurts.

  25. This is great news! I hope Saab can keep momentum and sales explode. It’s about time their fortunes turn for the better – it would be very well deserved to say the least. Go Saab!

  27. Great news. Pang Da is clearly willing to take big risks. This payment up front is really to help with SAAB’s liquidity. And the fact that they are willing to do so with the VERY REAL fact that SAAB still has cash issues, shows their value as a partner. I expect they have every singe one of those cars presold before they even hit the showrooms.

  28. I also think this will be supported by the Chinese govt as they are very anxious to reduce the masive trade surplus with the EU. This is a drop in the bucket, but has great optics.

  29. Great! This is a good step in the correct direction.

    The next Saab-related thing I’ll be worrying about is seeing some more next-gen 9-3 mules!

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