No agreement between Spyker, Hawtai and Saab

Spyker Cars has announced today the agreement by and between Hawtai, Spyker and Saab Automobile AB (Saab Automobile) for funding and strategic partnership has been terminated. The Dutch automaker underlines however that the discussions will continue.

The termination of the agreement means that Saab Automobile may enter into a strategic partnership with Hawtai or another Chinese party on manufacturing, technology and distribution in China.

Hawtai was forced to terminate the agreement the company had with Skyper because it failed to gather all the necessary consents by stakeholders. The parties will continue their discussions about a possible cooperation, however now on a non-exclusive basis.

Spyker and Saab have gone to China to search for strategic partners in order to secure short and medium term funding. The two companies are equity and debt financing and/or technology licensing with these Chinese partners.