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Spyker Saab Deal Goes Through (Press Release)

admin — Tue, 23 Feb 2010 17:34:50 +0000

DETROIT – General Motors and Spyker Cars NV today announced that they have finalized the deal for Spyker to purchase Saab Automobile AB.

Going forward, Saab and Spyker will operate under the Spyker (AMS:SPYKR) umbrella, and Spyker will assume responsibility for Saab operations. The previously announced wind down of Saab operations has ended.

“This transaction represents the successful outcome of months of hard work and intense negotiations, all aimed at securing a sustainable future for this unique brand, and we are pleased with the positive outcome,” said John Smith, GM vice president for corporate planning and alliances. “This is a great day for Saab employees, dealers and suppliers, and a great day for millions of Saab customers and fans worldwide.”

“Throughout negotiations over the past year, GM has worked with many parties, including governments and investors, to find a solution for Saab,” said Nick Reilly, president, GM Europe. “I’m very pleased that we could come to a positive conclusion, one that presents a viable future for Saab and preserves jobs in Sweden and elsewhere.”

Via GM Press Release

Who Will Save Saab Now?

admin — Tue, 01 Dec 2009 16:26:59 +0000

A marriage between Saab and Swedish performance car maker Koenigsegg is over even before the ceremony was finished, raising questions of the brand’s long-term viability… General Motors, Saab’s cash-strapped US-based parent, issued a brief statement overnight announcing the merger would not take place after Koenigsegg pulled out of the deal.

‘‘We’re obviously very disappointed with the decision to pull out of the Saab purchase,” GM president Fritz Henderson said in a brief two-paragraph statement announcing the breakdown in the sale process.

‘‘Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB,’’ Mr Henderson said.

‘‘Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week.’’

Up until yesterday’s surprise announcement, the Koenigsegg deal had looked solid. The Swedish car maker had even announced it had struck a deal with a Chinese investor that was keen to expand the Saab line-up into China and other untapped markets.

via Sydney Herald

2010 Brings Us An All New 9-5

admin — Mon, 26 Jan 2009 22:41:24 +0000

Just when you thought it might have been all over for the world’s automotive industry Saab has released some very interesting photographs of 2010′s Saab 9-5 facelift. This possible reincarnation of the classic Saab looks more like something out of Minority Report than a car company.

The vehicle will be outfitted with an all new Cross Wheel Drive for optimum handling and suspension. The all new SAAB 9-5 will have its public unveiling at the Frankfurt Motor Show in September.