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Stroke of genius by VM! Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Wed, 18 May 2011 15:04:40 In Reply to: Re: If news are correct?, James, Wed, 18 May 2011 13:43:10 Members do not see ads below this line. - Help Keep This Site Online - Signup |
All other deals with Chinese companies require weeks or months of review and approval of the Government. Pang Da had one-billion Renembi in the bank from their recent IPO, was already approved by the Government to purchase vehicles from manufacturers in other nations for resale in China, has thousands of retail outlets in China, and was seeking a three way JV with a foreign manufacturer and a Chinese manufacturer so that Pang Da could move into manufacturing too.
Sell thousands of cars for cash up front, instantly gain broad distribution for the brand in the worlds largest auto market, and secure a potential low cost source for producing either major components or entry level/sub-compact size vehicles.
Now the only question is whether the cash will be enough until SAAB's sales climb naturally above the break-even point. They have been there before by a substantial margin. Can they get to that sales point again?
posted by 98.250.156...
_______________________________________ Saabs owned: 2008 9-5 Aero Sedan, sold at 227K miles 2006 9-3SC 2.0T - Wife's daily driver 2000 Viggen Convertible - Sold May, 2022 1964 Quantum IV Formula Car - Retirement project 2000 9-5lpt Sedan, sold at 318K miles
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