Dutch car-maker Spyker has signed a deal with China’s Pang Da Automobile and Youngman for the distribution of Saab vehicles and the development and production of three new models.

The memorandum of understanding was signed in May but has now been made binding. the paper says. Saab’s future has been under threat because of a lack of finance.
Pang Da and Youngman are investing a total of €245m giving them a joint 50% interest in Saab, reports Trouw.
Distribution
The deal includes a strategic alliance consisting of a 50/50 distribution joint venture and the production of the three new models in Sweden with Youngman financing the development.
The possible return of Russian businessman Vladimir Antonov is also part of the deal. He was forced out of the company during the takeover of Saab by Spyker last year.
Pang Da and Youngman expect him to return as a shareholder.
Shares in Saab rose 15.5% at the news of the deal.