Sweden's Saab gets new order from China's Pang Da

STOCKHOLM — Spyker NV's ailing Swedish unit Saab has received a new $22 million (€15 million) order from Chinese investor Pang Da.

The cash order for 630 cars follows one for 1,300 vehicles as part of last month's pact under which Pang Da agreed to buy a 24 percent stake in Spyker for €65 million.

Spyker said Wednesday that delivery of the cars will start in the second half of this year.

Cash-strapped Saab last week resumed production after a near seven-week standstill because of payment problems to suppliers.

The deal with Pang Da appeared to rescue the car maker. Skeptics predicted Saab was heading for collapse after a manufacturing deal with China's Hawtai fell through.