Spyker to Change Name to Swedish Automobile
As some of you already know, Pang Da would provide Saab with the much-needed financial aid by buying lots and lots of cars it plans to sell in China. At the same time, Pang Da will become a shareholder of Spyker and, by the middle of the decade, it will get involved in manufacturing Saab cars in China.
Momentarily, this entire rescue plan has been subjected to the approval of Chinese authorities, having a great chance of passing. Should that happen, the Spyker name would cease to exist, as it will be replaced with Swedish Automobile.
The decision to change the name, painful as it may seem for the fans, makes sense from a corporate point of view. Since Spyker sold its sports car business to CPP Global Holdings, a company owned by another Saab-interested party, Vladimir Antonov, the use of the Spyker name made no sense.
The change in name is very likely, considering the confidence Pang Da expresses in the Chinese authorities and their own business plan.
“The initial procedure discussions we have had with the NDRC were done in good spirit and all parties have a good understanding of the process going forward,” said Pang Qinghua, Pang Da CEO.