A new Saab story?
There's a lot of talk about China investing in Europe these day. Now it looks like the road ahead for Swedish car manufacturer Saab might just be paved by two Chinese auto companies, Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co.
In a deal valued at $141 million, it could mean a comeback for the 60-year-old brand. Saab's been on the skids since GM sold it early last year to the small Dutch company called -- conveniently -- Swedish Automobile. Saab's production lines have stopped since March when it could no longer pay suppliers. This new deal could put some air back in Saab's tires and get it back in the race with rival and also Chinese-owned Volvo. That has the Marketplace Daily Pulse beating faster today.