Saab in China

[KiwiGuy]

BAIC buys 3 Saab platforms and 2 Turbo engines

From China Car Times:

Both foreign and domestic Chinese media reports this afternoon indicated that BAIC has successfully purchase two platforms and two turbo powered engines from bankrupt car maker Saab.

The Chinese media are reporting that the Saab 9-3 and Saab 9-5 have been snapped up by Beijing Automotive Industry Corporation, turbo assisted engines as well as gearboxes and various pieces of IPR have been included in GM’s firesale.

At various automotive shows in 2009 and 2008 BAIC has shown off an impressive range of concept cars that it plans to put into production within the next few years, now that it has easy access to a range of platforms, engines, and gearboxes it may be able to skip a massive step in its R&D process. The 9-3 and 9-5 are expected to be produced in China under the Beijing Auto brand.

However, the Saab saga doesn’t end here, other media outlets are reporting that a further fight maybe on for the rights to the rest of the Saab. SAIC are reportedly interested in entering the fray, they may even be granted favored status by their JV partner and Saab owner GM

[KiwiGuy]

I wonder what the Chinese call "chronic torque steer"

[Rally Red Lancer GTS]

nzsaab and KiwiGuy-by now I'm sure you already know this but I'll report on it anyway. GM has given the axe to Saab. The deal to sell to Spyker has indeed failed.

http://www.allcarselectric.com/blog/...s-to-sell-fail

[nzsaab]

Good day Rally Red Lancer GTS - Enter NZSAAB for his view . . .

Kia Ora all, GM HAS ANNOUNCED WIND DOWN OF SAAB AUTOMOBILE AB as of JAN 1 2010

This is a sad day for all us Saab owners and enthusiasts.

BUT WAIT! - THAT WAS YESTERDAY! THINGS HAVE CHANGED AGAIN!

A little bird informed me today that Spyker are back in the game with a revised 8 point plan on buying Saab Automobile AB from General Motors Corp.

It was GM that backed out on the deal, not Spyker. GM was worried because one of Spykers major backers is Russian and yankies dont like vodka addicts so GM pulled out. It was said that the contracts for Spyker and GM to sign on the line for purchase were on a plane in Sweden (probably a Saab 340 or 2000) enroute to the venue of signing. When GM yelled NEJ!(swedish for no)

GM have said they will consider more offers between now and wind down so lets hope they accept Spykers buyout offer.

Im thinking so what if Spyker buys Saab and the whole thing collapses in the next few years, atleast the 9-5 and 9-4x came out! I just think it would be a shame if the 9-5 and 9-4x were never built.

Im interested in your take on this KiwiGuy

[KiwiGuy]

It all depends on whether Spyker can get in there before BAIC can make its mind up. Spyker is only a small firm which makes luxury sports cars and I wouldn't think it has that much money since its sole model, the C8, has been in production in small numbers for about four or five years. However, these cars don't come cheap, so maybe it does have the money to pruchase Saab.

Here's what Spyker makes: the C8


Compare this to Saab and you will find it is a bit of an oxymoron.

[Rally Red Lancer GTS]

I'll give you my take, nzsaab. I hope the Spyker deal goes through, too, because I'd also like to see at least the 9-5 Aero built, man. Let's hope for the best, GM's self-imposed deadline is the end of Dec.2009 to get this done.

[KiwiGuy]

I don't get what you mean about Americans not liking Russians. Chrysler recently sold some tooling to Russian manufacturer GAZ to produce the previous generation Chrysler Sebring as the Volga Siber. Chevrolet sells cars in Russia, albeit they are Daewoos and, as you well know, Boeing is finding a big market with Russian airlines.

General Motors is still reeling after the massive budget cuts as part of the bailout package. They can't afford to mess around selling companies to manufacturers with little or no business credentials if it means that GM will make a loss out of the deal.

[Rally Red Lancer GTS]

But just liquidating assets is a losing deal for GM. They need to find a buyer to get the most out of their Saab "investment", eh?

[nzsaab]

KiwiGuy

What I can confirm from inside Saab is that the reasons for General Motors to pull out of the first deal with Spyker were concerns with the Russian backer somone Antonov (nothing to do with the Russian aircaft maker Antonov that I know). Its tied up with a Russian bank. Gets very messy.

Another concern was also what you raised. Money. It was made higly public by european media that Sypker had no money and its true and not. The manufacturer probably doesnt have much money in its accounts but thats not to say its investors dont.

Part of the deal to buy Saab Automobile from GM is that Spyker have enough cash to "clinch the deal" so to speak before 31st Dec 09. However they dont have enough cash to run Saab long term so its planed to go for loans from most likely the European Bank during early next year to fully buyout Saab.

Long story short. Spyker have met all the issues that have arisen from the first deal that went wrong after GM pulled out. Spyker have removed the Russian backer from the deal as I know.

Its messy to explain everything in one go.

You (readers of China Car Forums) are welcome to put clear questions to me and I will answer them like a press conference. Use Bold for the question to me

[nzsaab]

oh and about the Russian thing, I agree with you Kiwiguy. GM are just making excuses. From what Ive heard GM really would rather see Saab die because Saab currently posseses alot of new GM technology that a new buyer would gain ownership of. Basicly they would fight GM with GM's tech. GM dont want that.