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Is the communist centralised Chinese mentality out to get Saab automobile or is the press just behaving as the press as usual



  

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Saturday, 21 May 2011
In the past days there was this breath of fresh air when it became evident that Saab automobile had finally secured a partner in China which means that Saab’s future was now paved. But new development today in the Swedish press shows contradictory information which looks like the Chinese could be gradually becoming the new world economic bully.

After it was made known that Saab had become structured with a new partner in China, it was thought that since Pang Da was just a car dealer, it was easier for Saab to set up operations with. That has turned out not to be the case and Saab’s rescued is now said to be in danger. The Chinese state mechanism is now deemed to have a say in the matter.


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Since the agreements was concluded with car distribution giant Pang Da, Saab knew that it had successfully have its head above water and already reports hold that money had already changed hands. But the Chinese National Development and Reform Commission (NDRC) has determined that it is the automaker known as Youngman which is entitled to sign a contract with Saab, writes Swedish newspaper,  Svenska Dagbladet (SvD) on the web.

The super Ministry,  NDRC decides which Chinese companies can invest abroad and at a meeting on 18 May, it said that Youngman was the first company to apply for investment licenses in the Spyker - which owns Saab. Already, Pang Da has paid €30 million to Saab for the 1300 Saab cars. But the contract in the second part of the deal, where Pang Da was expected to buy a stake in Spyker is now reported to be in danger - and thus Saab's long-term financing is in jeopardy.

But Victor Muller, Spyker's CEO, and Saab's chairman, said that “that is not the information we have received from that meeting and we have received preliminary information from there. The fact that our deal with Pang Da would be blocked is absolutely incorrect, ”he told SvD.
By Scancomark.se Team


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