On Monday, Spyker Cars, the Dutch owner of Swedish car maker Saab announced that it has reached a deal with China's Pang Da Automobile Trade Co. for improving its operations. The deal is a new hope for the investors of the company as the previous deal collapsed last week.

Under the deal, Pang Da will take a 24% stake in Spyker for €65 million. The company will make a payment of €30 million to buy Saab cars and it has plans to buy up to €15 million more Saab cars within 30 days.

Spyker is a manufacturer of high-end sports cars and it acquired Saab last year from General Motors Co. After the takeover, the company has faced difficulties to finance its operations. Earlier, it had set a target to manufacture
80,000 cars this year but later on cancelled it, as it was not feasible due the poor operations of the company.

After the latest announcement, initially the shares of Spyker fell when the market opened in Amsterdam but later jumped 12 percent when trade resumed. The stock of the company was rose 12.3% and was traded at 3.988 euro.