Saab's rescue deal with China's Hawtai collapses

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The Independent Online

Saab's future hangs in the balance after a rescue by China's Hawtai Motor Group collapsed. Spyker, the Dutch owner of the Swedish car maker, is scrambling to find new funding that will let it restart production.

Talks with Hawtai are continuing, and a rival Chinese manufacturer, Great Wall Motors, is also in the frame. The Russian financier Vladimir Antonov could also invest in the loss-making car maker.

Saab has teetered on the brink of collapse after running out of cash. Suppliers refusing to deliver parts stopped production at its Trollhättan, Sweden, plant for most of last month.