Spyker Cars will be renamed to Swedish Automobile NV image

Dutch company Spyker Cars NV (SPYKR.AE), which owns Swedish car maker Saab Automobile, plans to rename itself Swedish Automobile NV.

As we know, Spyker has sold the Spyker sportscar part of the company to the coach-builder CPP earlier this year, so it made no sense to use the name Spyker any more. Furthermore it is unknown if they are fully free to use the name SAAB, or if they have to always ask Saab technology AB if they want to use it differently.

In the longer term, Spyker will enter a joint venture with Pang Da and a local Chinese vehicle manufacturer to begin making cars in China within two years.

On the Saab front, Pang Da, one of the biggest car dealership operators in China, committed to purchasing EUR30 million worth of cars from Saab, to be distributed in China.

“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.

Under the deal with Pang Da, the Chinese company will initially buy about 1,300 Saab cars for EUR30 million, and could buy a further EUR15 million worth of the cars within the next 30 days. Spyker said the EUR30 million was paid last Tuesday.