But thanks to a merger with American aircraft company Volta Volare in August, Spyker appears to be on the mend and they have something to announce.
For those who have lost track of the Saab saga, back in 2010, the struggling was sold by General Motors to supercar and race car builder Spyker.
Youngman Lotus has agreed to pay $12.5 million US dollars (10 million Euros) to Spyker in exchange for a 29.9% ownership in the company.
Spyker announced on August 6th that they were suing General Motors for $3 billion, insisting that the American auto giant made corporate moves to force the Saab brand into bankruptcy.
Spyker Cars, the low volume and high performance branch of Swedish Automobiles has been sold to US firm North Street Capital.
When the EIB granted the massive loan to Saab and Swedish Automobiles (formerly Spyker), one of the stipulations was that young Russian billionaire Vladimir Antonov not be granted any ownership of
This newest loan to Saab comes from Gemini Investment Fund, a Bahamas-based hedge fund, and with this latest infusion of 229 million Swedish Krona ($35.4 million USD or 25 million Euros), Saab hope
Saab has spent much of this year dealing with a serious cash flow issue that has not allowed them to pay their suppliers and things have gotten so bad that the company cannot get enough components
Saab’s Trollhattan production facility has been shut down for most of April and May due to non-payment issues with a long list of vendors; some of which were revealed last week in a filing with a S
The Swedish online newspaper GT published the full list of the 48 companies who are looking to have Kronofogden collect 23,743,014 Swedish Krona – which amounts to $3,672,944 US dollars with the cu
Spyker/Saab has not offered a clear indication as to exactly what caused the termination of this partnership, but today’s announcement simply stated that the May 3rd agreement between the two compa
The goal of this investment is for Hawtai and Saab to enter into joint ventures in manufacturing and distribution of vehicles along with R&D and technology sharing.
Throughout this past month of troubled times for Saab and Spyker, the company has been pitting all of their hopes in Russian investor Vladimir Antonov.
Tens of millions certainly sounds terrible but with the current exchange rate between the Swedish Kronor and the US dollar, 10 million Swedish “crowns” equals roughly 1.6 million US dollars.
The news of Saab suppliers holding back new shipments, thus effectively halting production, originally broke last week as the company sat out a few days’ work due to a lack of parts from the angry