In addition to the receipt of EUR 30 million from Gemini, Saab Automobile will make a drawdown request to the EIB for an amount of EUR 29.1 million. As a result of the convertible loan and the EIB draw down – which is expected next week – Saab Automobile secured an amount of EUR 59.1 million. With the receipt of these funds, Saab Automobile secured the liquidity that is required to restart production.
Saab Automobile aims to restart production within a week, pending agreements on delivery schedules with its suppliers. In order to improve lead times to customers and dealers on existing and future orders, Saab Automobile will work together with its suppliers to minimize any impact from the recent production stop.
Victor Muller, CEO of Spyker and Chairman of Saab Automobile said: “I would like to apologize to our dedicated employees, suppliers, dealers and customers for the disruptions of the past weeks. We will do everything in our power to restore the confidence in our company as soon as practically possible.”
- Nissan GT-R Gentleman Edition announced in France
- 2014 BMW M5 and M6 line-up launched gets an optional Competition Package with extra 15 hp
- Aston Martin centenary celebrations continue – CC100 Speedster Concept debuts at the ADAC Zurich 24 Hours race
- New redesigned Subaru Forester first to ace new crash test (video)
- Audi R8 V10 by ABT Sportsline packs 600 hp
- 2014 Mercedes-Benz S-Class debuts in Hamburg
- Tesla Model S: The Best Car Ever?
- 2014 Cadillac XTS gets a twin-turbo V6 with 410 hp – automatic parking assist
- Watch a horrifying Ferrari 458 crash at the Suzuka Circuit in Japan
- This is how the Audi R8 is handcrafted at the Neckarsulm factory (video)