Agreement between Saab and Pangda Canceled MOU

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Agreement between Saab and Pangda Canceled MOU

An agreement between Saab and Chinese car company Pangda for an investment in Saab is no longer valid after the Swedish car maker entered bankruptcy protection, the Pangda chairman said on Wednesday.

Pang Qinghua was speaking to reporters on the sidelines of an industry forum in Chengdu.

Pang added that the Chinese side has not yet submitted a proposal to the Chinese government regarding the Saab deal. (Reporting by Fang Yan and Don Durfee; Editing by Ken Wills)

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