May 24, 2024

Saab signs a partnership with Hawtai Motor Group and restarts production

Saab logo

The Swedish people from Saab are currently crossing a very difficult situation but it seems there could be a way to get out. Saab announces that is about to sign a partnership with Hawtai Auto Group, a Chinese company that will follow to take care of the financial part and help Saab to exit this financial crisis.

Saab logo

Hawtai Auto Group is listed in the Chinese Top 500 companies with a turnover of around €1,40 billion and there are some big chances to see a second Swedish manufacturer helped by a Chinese company to overcome a financial crisis, of course, relating to Volvo who managed to put the business back on wheels thanks to Geely Auto Group.

Moreover, Saab claimed that a €29 million loan has been taken from the European Investment Bank, money which will help the Swedes to regain the forces and resume the production which is currently on hold.

While the partnership details will be set at an upcoming event in China, it remains to be seen if the Saab’s fate will be a good one for all.

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