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