Saab: All lives used up?
20/12/11 19:42 Filed in: News
The news that Saab
is to enter administration is a bitter end to what has been a roller coaster since we ran the premature obituary
on this blog exactly two years ago.
First there was the proposed takeover by Koenigsegg
, followed but the Spyker acquisition
. The fact that Saab was not dead was very much underlined by two tests in the year that followed – one of the Saab 9-3X
and one of the Saab 9-5
But, this week came the news that Saab had crashed into administration. Despite Autocar’s
report yesterday that Victor Muller still held onto some hope that an investor could be found to rescue Saab from bankruptcy, it must be seen very much as an outside chance. Under Swedish law, Autocar
reports, bankrupt companies can be revived if an investor is found.
It’s widely reported that the sticking point was former owner GM’s refusal to allow a deal to be done with Chinese manufacturers who were reportedly keen to take over the company. It is suggested that GM’s concern was that its intellectual property would end up in Chinese hands.