This story has been updated to reflect GM’s comments on the Spyker lawsuit.
General Motors is facing a $3 billion lawsuit filed by the small Dutch sports car manufacturer Spyker Cars NV – which claims the U.S. maker improperly blocked its efforts to save Sweden’s now-bankrupt Saab Automobile.
Spyker purchased Saab in early 2010 from General Motors after the American carmaker decided to sell or shutter the struggling Swedish company. But it quickly became apparent that Spyker didn’t have the cash needed to see the venture through. It made a series of attempts to save or sell Saab, but was forced to liquidate the firm last year.
Spyker – which briefly changed its name to Swedish Cars, says GM blocked its rescue effort to avoid the possibility of facing additional competition in China – where General Motors is the largest manufacturer.
“We tirelessly worked to save Saab Automobile until GM destroyed those efforts and deliberately drove Saab Automobile into bankruptcy,” says Spyker CEO Victor Muller. The Dutch entrepreneur insists, “We owe it to our stakeholders and ourselves that justice is done.”