- GM announces EV development deal with Chinese partner
- Koleos to be first Renault made in China
- Pangda CEO denies being invited by GM to negotiations regarding Saab
- Over 600000 Great Wall Haval H SUVs sold
- Beijing Benz to officially export E-Class
- GM China to complete second phase construction on R&D center in 2012
- Beijing Hyundai president called back to Korea, replaced by VP
- Dongfeng Nissan's new Guangzhou factory begins operation
- In the wake of Saab's bankruptcy, Pangda sees stock price fall
- Pangda Automobile Trade to sell 22 properties
- Dongfeng eyes up bankrupt Saab's remaining assets
- BYD building new crash test center in Shenzhen
- Chery to cooperate with SK Telecom
- Expansion work at Shanghai GM factories going smoothly
Pangda CEO denies being invited by GM to negotiations regarding Saab
2011-12-27 from:From Gasgoo.com
Pang Qinghua, head of Pangda Automobile Trade Corporation, has come out and denied media allegations that General Motors had approached the company regarding Swedish manufacturer Saab, auto.sina.com.cn reported earlier this week. According to the reports, GM had invited Pangda and fellow domestic company Youngman to the US for negotiations regarding the future of Saab, but was later rebuked by the Chinese dealer network.
However, Mr. Pang confirmed reports that the companies had decided on Ordos City, Inner Mongolia as the new center for a Saab factory. City authorities would supposedly provide Youngman with a 35 million yuan ($5.51m) factory.
Mr. Pang added that negotiations with GM had failed to come to fruition.
According to the AFP, Saab officially filed for bankruptcy today.