Saab Details Partnership with China’s Hawtai Motor Group

In his attempt to save Saab- again, and after having secured short-term cash of €30 million (US$44.6 million), Spyker Car N.V. CEO Victor Muller’s next move was to sign a strategic partnership with China’s Hawtai Motor Group. Under the agreement, Saab will receive a €150 million (US$222.5 million) cash injection while the two companies will form joint ventures for manufacturing, technology and distribution.

As a part of the deal, China’s Hawtai will invest €120 million (US$178 million) for up to a maximum of a 29.9 percent equity stake in Spyker on a fully diluted basis. Τhe remaining €30 million will be in the form of a convertible loan agreement with a 6 month maturity, an interest rate of 7% per annum and a conversion price of €4.88 per share.

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Saab Announces Strategic Partnership with China’s Hawtai Motor Group, Secures New $30 Million Loan

Spyker Cars NV and Saab president Victor Muller is pulling all the strings to kick start the Swedish automaker back into life after the company hit a cash crunch and was forced to halt production last month as suppliers refused to send parts citing lack of payment.

After an earlier announcement on the involvement of Russian banker Vladimir Antonov, who plans to invest €30 million in Saab’s parent company Spyker in return for a 29.9 percent stake, Muller hit twice today revealing that the company has secured a €30 million convertible loan from Gemini Investment Fund Ltd, while also announcing a new partnership with China’s relatively unknown, Hawtai Motor Group.

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Bentley-Snout Part II: Huatai's New B11 and B21 Sedan Snapped Ahead of Beijing Show

From the makers of the Porsche Cayenne clone (see here) B35 come these two Bentley-faced sedans called the B11 and B21. We're almost certain that many of you will find quite a few styling similarities (in the details) between Hawtai's Beijing Auto Show sedans and other Western and/or Asian cars...

The only thing we know about the two family sedans from Hawtai is that they will be offered with a choice of a 1.8-liter turbo and a 2.0-liter four-cylinder petrol engines. Full gallery after the jump.

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Only in China: A Porsche Cayenne Clone with a Bentley Snout by Hawtai

Just when you think we've seen it all from China's clone-loving auto manufacturers, along comes Hawtai with this gem: the oh-so Porsche Cayenne-ish B35 SUV that was caught here by photographers as it was unloaded off a truck.

Set to make its world premiere at this month's 2010 Beijing Auto Show, the Hawtai B35 "improves" upon the first generation Cayenne's looks by adopting a very Bentley-like fascia with a large chrome grille.

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