Industry News: A Chinese Bank Becomes An Investor In Saab

[William Maley]

Saab seems to be the cat of the automotive industry with the number of lives it has. Last we heard from the Swedish company, the company was waiting on approval on a deal with Pang Da and Youngman. However, General Motors was concerned with the deal due to technologies used in Saab vehicles ending up in competitor hands.

Now, a new deal to save Saab is in the works. Saab's parent company, Swedish Automotive is in talks with Youngman and a bank in China (possibly Bank of China).

The plan according to SaabsUnited is to have Youngman hold 19.9%, the bank with 29.9%, and Swedish Automotive holding the rest.

The plan is reportedly in GM's hands, awaiting approval before heading to the Chinese Government.

Source: Automotive News (Subscription Required), SaabsUnited

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[Turbojett]

I must say...the picture for this article couldn't be more apt.

[Drew Dowdell]

how many more lives can SAAB really have?

[SoCalCTS]

I hate to say this but maybe GM should buy an equity stake in Saab and build the cars in Mexico and China for the world market and in Europe for the European market.

[Drew Dowdell]

GM just torpedoed this plan too.

[Z-06]

I think GM is playing tit for tat with Muller. After buying SAAB he bashed GM for almost everything that was wrong with the company. I guess while trying to save SAAB he lost his own brand he is now on verge of losing his SAAB.

[A Horse With No Name]

I think GM is playing tit for tat with Muller. After buying SAAB he bashed GM for almost everything that was wrong with the company. I guess while trying to save SAAB he lost his own brand he is now on verge of losing his SAAB.

Agreed, sir. Glad to see you posting more here at C and G.