Hawtai Motor Group
Saab's new deal with a fledgling Chinese automaker doesn't just mean a lifeline for the struggling Swedish automaker; it could over the longer term become a much-needed powertrain supplier—especially in the area of clean diesels. Through the deal that's almost finalized, Hawtai Motor Group (which has been building vehicles, mostly off older Hyundai designs, for less than a decade) will purchase a nearly 30-percent share in Saab for about 150 million euros, or about $215 million. Victor Muller, CEO of Saab's owner, Spyker Cars, says that the two brands are quite close in size and can...
Struggling Saab Now Valued At Just One-Fifth Of Tesla Motors
Saab fans all over the world are looking anxiously at a company that says it's pulled itself back from the brink of death. Again. The latest rescuer is the little-known Chinese carmaker Hawtai Motor Group, which will invest 120 million euros ($177 million) in Spyker Cars NV, the Dutch company that...John Voelcker