When General Motors sold Saab to Spyker, company execs must have been somewhat relieved to get the brand out of their hands. However, GM didn’t cut its ties completely as it remains a shareholder and a major parts and technology supplier. Now this is proving to be a problem for both companies.
After receiving court protection from its creditors, Swedish Automobile N.V. agreed to sell 100% of Saab to Chinese partners Pang Da and Zeijiang Youngman Lotus Automobile, it had to get approval from its shareholders. General Motors, though, almost immediately raised concerns over the deal .
According to a report from Swedish newspaper Dagens Industri, GM is still blocking the deal because, at it has already stated, it does not want its own technology to be transferred to its competitors – and for the paltry sum of €100 million, we might add.
Dagens Industri also quotes GM spokesperson, James Cain, as saying: “Saab and Youngman can do whatever they think is best for the company. But if it is a 100% takeover of Saab, they are going to do it without the cars we deliver, the 9-4X, and without GM’s technology.”
So the question is, will the Chinese partners be willing to buy Saab without GM’s technology – that is, just the brand name, its debts and not much more?
Story References: Autonews
10 Comments:
Well, if Saab calls in the Mexican drug cartels to handle GM—no contest. GM will be eradicated in a matter of weeks.
Oh GM, your good old stupid side is back, it was nice seeing you half decent for a while
GM's inferior technology is what ruined Saab to begin with. GM stock is tanking right now. I know the people won't stand for another bail-out.
The Chinese should retaliate by banning GM sales in their country.
SO GM is stupid for not wanting its own technology to be transferred to its competitors for dirt cheap? I can't blame GM for that and if anything it is a good business move by GM.
'Mexican Stand-Off' = guns'N'drugs @ 20 paces.
who needs a genetically modified SAAB?
lol so GM tech is inferior and no good but yet the Chinese should retaliate because GM will not let a Chinese competitor to get their hands on it, well if the tech is no good why should they retaliate? never mind the fact it is not Saab's tech but GM and GM has a right to protect their tech. Lord you GM haters don;t even stop to think before you all write your pitiful posts slamming GM with crap that don't even add up to a hill of beans...
BTW if the Chinese banned GM sales in their country. the Chinese partners of GM would be hurt too. Again your crap adds up to a hill of beans.
It's unpatriotic to buy a GM product. Every time a GM product is sold it cheats the free market system. You Paul71 are a communist. That's the REAL problem I have with GM.
GM execs anxious to dump SAAB? SAAB provided GM with A LOT of tech and engineering. You see it everything from the new turbo Buicks to the XWD Cadillac crossover. SAAB was profitable too, but GM was manipulating the books. Basically GM bled SAAB to death, not allowing sufficient investment in products. Then they force them to make 9-2X and 9-7X, rebadged GM and Subaru bullsh*t. SAAB is one of the greats in auto history, and true auto enthusiasts realize it is a loss to have SAAB disappear. Fu*k GM for poisoning this grand brand, decimating its engineering and design staff, and letting it rot on the vine. Look, those morons at GM even destroyed their homegrown brands: Saturn, Oldsmobile, Pontiac, etc., etc. You GM fanboys then act like SAAB was blessed to be "saved" by GM. Utter nonsense.... GM is worse than Daimler at rape....
just EXACTLY WHAT happened in
1996???
1971????
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