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Saab to Restart Production in August

July 07, 2011

TROLLHATTAN, SWEDEN – Saab announced it plans to restart production in Europe on August 9. This news comes on the heels of the close of a deal the automaker signed with Swedish real estate investors to sell and lease back the company’s property for $40 million. So far the automaker said it has raised approximately $87 million in funding, including the $40 million from this deal.

Saab also announced it signed an agreement with Zhejiang Youngman Passenger Car Group Co., Ltd. (a.k.a. Youngman) to form a Sweden-based joint venture to develop three new Saab models, the Saab 9-1, Saab 9-6, and Saab 9-7. A quote from Pang Qingnian, CEO of Youngman, said the Saab 9-6 and 9-7 are slated for the U.S. market whereas the 9-1 is being designed for the global marketplace.

Automotive Fleet recently interviewed Saab’s John Gaydash about its plans for the fleet market. Plans include a new version of the 2012-MY 9-5 this fall and a new version of its 9-3 for MY-2013.

Source: Saab

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