Saab has received the first installment of their €70 million bridge loan from Zhejiang Youngman Lotus Automobile. The company declined to mention how much they received, but the remaining amount is expected to be delivered by October 22nd.
The desperately needed cash will help to ensure the company’s short-term stability until the Chinese government approves a €245 million investment by Pang Da and Youngman. However, reports have indicated the deal is likely to be rejected because it doesn’t include any new intellectual property rights.
