Saab's fresh investment will allow it to push on with development of new models, including its new 91 supermini and a larger SUV.
Saab now has a 150 million euro (£134 million) investment from Chinese SUV manufacturer Hawtai in Saab’s parent firm Spyker, plus a 30 million euro (£26.7 million) loan from existing investor Gemini Investment Fund.
This has generated enough cash for Saab to maintain its day-to-day operations, which have suffered due to sales falling well short of expectations.
But those deals — and a 60 million euro (£53 million) investment from a Lithuanian investment fund and Russian oligarch Vladimir Antonov — could have a longer-term pay-off, Saab chairman Victor Muller told Autocar.
Muller hopes the new cash will kick-start development of the new 91 supermini, “a car we so eagerly want”. Indeed, Saab is reportedly readying a bid to buy the outgoing Mini platform from BMW to underpin its Audi A1 rival.