Saab Gm | TheDetroitBureau.com
Detroit Bureau on Twitter

Posts Tagged ‘saab gm’

Saab is Back in Business – Almost

New owner restarts Swedish assembly line for first time in two years.

by on Sep.20, 2013

The Saab assembly line in Trollhattan, Sweden has been idled for more than two years.

Shortly before its seemingly final collapse, struggling Swedish automaker Saab rolled out a striking concept vehicle it dubbed the Phoenix.  Despite generally positive reviews, the prototype wasn’t enough to save Saab from collapse, but now under new ownership, Saab is once again trying to rise from the ashes – and the Phoenix could be the long-term key.

For now, though, the new parent, National Electric Vehicle Vehicle Sweden, or NEVS, is focusing on building the old Saab 9-3 as it fires up the maker’s flagship Trollhattan assembly plant for the first time since April of 2011.

Auto News From a Source You Trust!

Just two cars rolled down the line this week, and “We need to finalize a few remaining dialogues to build partnerships with suppliers (before a formal decision is made) to start production of Saab cars,” cautioned a statement from Mattias Bergman, the acting president of NEVS.  But the goal is to have a turbocharged version of the 9-3 back in production before year end.

(more…)

Saab’s Last Sob: Judge Tosses $3 Bil Lawsuit Against GM

Appeal uncertain.

by on Jun.12, 2013

The end of the line for Saab.

A federal judge has tossed out a lawsuit seeking $3 billion in damages from General Motors, accusing the U.S. giant of taking illegal steps that ultimately led to the failure of Swedish automaker Saab.

The suit was filed last August by Spyker cars, the Dutch firm that bought Saab from GM in 2010.  Spyker’s effort was soon revealed to be underfunded and it quickly went looking for outside investors, including several Chinese companies that were interested in taking a stake in Saab or perhaps taking over the failing Swedish maker. But GM blocked the sale by refusing to allow Saab to transfer its intellectual property to the Chinese.

Stay in the Know!

Saab’s only products, at the time, had been developed by GM and largely used the U.S. maker’s components.

“General Motors had a contractual right to approve or disapprove the proposed transaction,” declared U.S. District Court Judge Gershwin Drain, following a hearing in Detroit. “The court is going to grant a motion to dismiss the matter.”

(more…)

Spyker Has Big Plans – in China

The rise of the Phoenix?

by on Aug.27, 2012

The Spyker D8 P2P concept - photo courtesy Autoblog.

Even as it moves ahead with a court suit seeking $3 billion from General Motors, Dutch-based Spyker Cars sees a bright future – in China.

Spyker – which ultimately lost its bid to save the struggling Swedish carmaker, Saab – is firming up its ties with China’s Zhejiang Lotus Youngman.  Youngman was one of several Chinese automakers that had hoped to partner with Saab before it was forced to liquidate late last year.

If it’s difficult to keep up with all the players, here’s the scorecard:

Be in the Know!

Spyker was a small Dutch supercar company run by entrepreneur Victor Muller.  In a bold – some would say ill-conceived – move, Spyker purchased Saab from General Motors in early 2010.  But the bid was severely underfunded and by March 2011, Saab’s unpaid suppliers began to boycott the firm.  That triggered a shutdown of the maker’s Trollhattan assembly plant and a cascading series of setbacks.

(more…)

Spyker Sues GM for $3 Billion

Claims maker blocked deals that would have saved Saab.

by on Aug.06, 2012

GM effectively forced Saab to liquidate when it refused to sell intellectual property for vehicles like the 9-5 sedan to a new owner.

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.

Subscribe Now! Free!

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.”

(more…)

Saab Story with a Happy Ending?

New owners hoping to get rights to Saab name.

by on Jun.12, 2012

There are many questions yet unanswered, including whether the new Saab owners will resume production at the Trollhattan assembly plant.

Those hoping to save insolvent Swedish automaker Saab have gotten some electrifying news.  The court administrators overseeing the company’s bankruptcy have given the green light to a Japanese-Chinese consortium that appears to focus on clean energy to buy the remaining Saab assets for a reported figure of around $250 million.

The one remaining obstacle is whether they will also get the right to the Saab name itself and the brand’s logo, which belong to defense firm Saab AB and truck manufacturer Scania AB.

What’s also uncertain is what the new owner, National Electric Vehicle Sweden AB has in mind for Saab.  The firm was only recently registered in Sweden and is actually a joint venture owned by Hong Kong-based National Modern Energy Holdings Ltd., with a 51% stake, and Japan’s Sun Investment LLC.

Your Personal Auto News Source!

The Chinese company has, until now, been focused on biomass power plants and related projects for China.  Japan’s Sun has been funding high-tech environmental and sustainable energy programs.  Neither firm appears to have any past connection to the auto industry.

Among the questions yet to be answered: (more…)

This Saab Story Apparently Won’t End

Several investors claim to be “near” purchase of bankrupt Swedish maker’s assets.

by on Jun.04, 2012

The Saab Phoenix Concept. Will the name prove prescient for the now-bankrupt Swedish maker?

At the 2011 Geneva Motor Show, Saab unveiled a concept car called the Phoenix, named to symbolize the maker’s seeming rebirth from the ashes.  It was clearly premature, as we now know, the maker soon forced into bankruptcy.

Yet, there may still be life in the old brand, a number of potential investors insisting they are close to pulling off a deal that could, indeed, bring Saab back from the dead.  Among the potential rescuers are a Chinese automaker that failed in its original bid to partner with Saab, as well as a new Swedish electric vehicle company.

Your Trusted Source for News and Reviews!

But whether Saab can, in fact, be saved is anything but certain even if someone can field a credible offer.  The problem is that some of the insolvent Swedish maker’s assets are controlled by its former parent, General Motors.  And so far, GM has refused to give permission to any of the deals that might have saved Saab.

By various reports there could be as many as a half-dozen different bidders trying to win over the two court-appointed administrators overseeing the Saab liquidation.

(more…)

Spyker Strikes Back

Freed of Saab, Muller reviving exotic sports car brand.

by on Mar.08, 2012

Victor Muller inside one of his Spyker exotics.

“I’m a reborn man,” proclaims Victor Muller, as he wanders the PALExpo Convention Center during the first press day at the 2012 Geneva Motor Show.

A year ago, the Dutch entrepreneur was at the annual event pulling the covers off the Saab Phoenix concept car – and hoping to line up financial support to keep that struggling Swedish carmaker in business.  Now Saab is dead, Muller severing all ties and turning it over to the bankruptcy courts.

But while some folks might have taken that as a cue to vanish from the automotive headlights, not Muller, who could be found drifting through the sprawling conference center saying hello to old friends and giving TheDetroitBureau.com the inside scoop on life post-Saab.

http://www.thedetroitbureau.com/about/subscribe

Subscribe Now! It's Free!

The most significant news? The ever-upbeat Muller has decided to scrub plans to sell off his other automotive company, the Dutch-based Spyker Cars.

“I’m excited to get back into this business,” he says, explaining that he has largely worked through the “huge liabilities” he incurred during what he calls “the Saab era.”

(more…)

Turkish, Indian Automakes Studying Saab Rescue

“Something could happen this month,” says Saab source.

by on Jan.02, 2012

At least two potential buyers are reportedly looking to take over bankrupt Saab.

Could it really turn out to be a “Happy New Year” for Saab?  Barely two weeks after finally filing for bankruptcy, a move most had expected would result in the liquidation of the long-struggling Swedish automaker, Saab could find salvation in the form of investors from either Turkey or India, industry insiders and company officials reveal.

A report out of Europe suggests an unidentified Turkish entity – which apparently has the support of that country’s government – is interested in purchasing Saab’s assets.  So is Mahindra & Mahindra, one of the two largest Indian national automotive companies.

Your News Source!

Details remain sketchy, but a senior Saab official tells TheDetroitBureau.com that “something could happen this month.” In fact, he added, a revival of the now-bankrupt automaker would have to be put in place this month or the bankruptcy process might make it impossible to put all the pieces back together again.

(more…)

Saab USA Studying Ways to Rescue Warranties

China’s Pang Da abandons plan to buy bankrupt Swedish brand.

by on Dec.21, 2011

Saab USA hopes to resume warranty coverage.

Saab officials are looking for a way to resume warranty coverage for customers who purchased the maker’s 2010 and ’11 products.

The maker announced yesterday it would be forced to suspend coverage for those who bought a Saab after the company was purchased from General Motors in early 2010. The Swedish maker declared bankruptcy on Monday after months of efforts to find a buyer who could save the cash-short company.

Subscribe for Free!

Separately, the Chinese dealer group Pang Da announced on Wednesday that it had abandoned its efforts to purchase Saab.  Pang Da and the Chinese automaker Zhejiang Youngman Lotus had both proposed a rescue plan – but the proposed deal was vetoed by Saab’s former parent, GM refusing to allow its intellectual property to be transferred to the Chinese.

“We’re committed to develop a way to handle warranties for all owners of 2010 and 2011 Saab models,” Tim Colbeck, CEO of Saab Cars USA, told TheDetroitBureau.com today.  The goal is to “reinstate (warranty coverage) as quickly as we can.”

(more…)

Saab “Suspending” U.S. Warranties

Maker waiting for guidance from bankruptcy trustees.

by on Dec.20, 2011

Owners of Saab vehicles, including the 9-4X crossover, have been put on ice.

Saab owners had better keep their fingers crossed they don’t need warranty service or repairs – at least not for the time being.

In the wake of the parent company’s decision to file for bankruptcy in Sweden this week the maker’s U.S. subsidiary has said it will not honor warranty claims – at least not for the moment, pending advice on how to proceed from Saab’s Swedish bankruptcy trustees.

Meanwhile, a well-placed Saab corporate source, asking not to be identified, claimed that one of the reasons for the company’s ongoing financial problems was the fact that General Motors had so far failed to reimburse the company for warranty repairs on vehicles sold while Saab was still a GM subsidiary.

In the Know!

For the moment, “All warranty coverage (no matter when the vehicle was produced or sold) is now being suspended until we have further direction from the (bankruptcy) trustees,” Saab USA spokesperson Michele Tinson told TheDetroitBureau.com.

(more…)