On Monday, the Saab automobile owner Spyker Cars NV announced that Pang Da Automobile Trade Co. Ltd., its Chinese fund provider, has entered discussions with authorities in China in order to get approval for its investment in both Saab Automobile and Spyker Cars.

Chief Executive of Spyker Victor Muller said that based on their discussions, they were confident that Pang Da would be able to get the approvals needed to formalize the pending deal.

The second part of the deal involves both Spyker and Pang Da signing a memo of understanding where Pang Da will by 24% of Spyker’s take for 65 million euro. Additionally, the two companies would have a joint venture for the distribution of their vehicles in China. However, this venture would also require approval by regulators in both China and Sweden.

For the past six weeks, the future of Saab has been uncertain, especially since production and been drawn to a stop because the company is in so much debt that it can’t pay for the parts from its suppliers.

Even though investors seem confident of the current deal, two weeks ago, a deal between the Chinese vehicle maker Hawtai Motor Group and Saab Automobile fell through because Hawtai wasn’t able to get the required approval to make the deal final.