auto industry

Saab Gets 200 Million USD for China Deal

Selling parts of SAAB’s production rights and technology to Chinese automaker BAIC has brought in 200 million dollars for the Swedish corporation, daily Dagens Industri reports. According to the paper the amount has already been transferred to SAAB’s Swedish accounts.

The sum will be sufficient to finance SAAB’s continued domestic production during the first quarter of 2010, Dagens Industri reports. Eventually, the equipment for manufacturing SAAB models 9-3 and 9-5 will be disassembled and shipped to China, so that production can begin there.

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