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.
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.