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As reported earlier, Swedish automotive brand Saab was facing problems financially and it was Chinese automotive company Hawtai who came in with the promise and it was all rosy for Spyker the owners of Saab when they took the brand from GM.
And then due to the regulations from the Chinese government and the fact that Hawtai failed to obtain the approval, the deal fell through. So it was back to the books for Spyker who then named that another Chinese company Great Wall could be involved.
But then there was another twist to the story as Pang Da Automobile Trade Co Ltd, the largest traded automobile distributor in China joined the fray and signed an MoU (Memorandum of Understanding) with Spyker. Pang Da has a nationwide dealer network of more than 1,100. The signing meant that a strategic alliance will be formed with a joint venture involving distribution and manufacturing of the Saab brand. This is where another MJV-owned brand will also be involved.

The agreement is such that the distribution service will be split 50-50 with Spyker also owning 50% in the MJV while Pang Da will have  their stakes in Saab. Pang Da will pay Euro 30 million in cash with another Euro 15 million to follow suit. As mentioned, Saab is in need of cash as they are unable to pay their suppliers and production is halted because of that. Hence with the money coming in, production could be restarted and delivery could continue.