Saab has signed a Memorandum of Understanding with Pang Da, otherwise known as the Pang Da Automobile Trade Co.
Interested Saab fans might be asking who is this most recent of suitors for Saab Automobile? Here’s a little of what I’ve been able to find:
- Pang Da are essentially an automobile sales and service company. They are publicly listed, having raised close to $1billion in an IPO earlier this year, China’s second largest IPO for 2011 so far.
- Pang Da have a sales, service and affiliate distribution network of more than 1,100 outlets across China and Mongolia.
- In 2010, the company was ranked amongst the top 200 enterprises in China, and in the Top 100 service enterprises. It has consistently been listed first amongst automotive service organisations in China.
- The company is based in Tangshan City, Hebei Province, around 150km east of Beijing.
- As well as a number of domestic Chinese brands, Pang Da also distribute and service Toyota, Subaru, Audi, Mercedes Benz, Mazda and Honda vehicles in China.
Under the terms of the MoU signed between Saab and Pang Da, the deal is still contingent on certain conditions being fulfilled and documentation completed. There is still some distance to go, however it’s good to become acquainted with a potential future partner.