Saab rescue

[marcush.]

One thing I'm completely confused on is what exactly you get when you hand GM a check. I assume there's the production assets in Trollhatten, maybe a design team, the current distribution contracts, etc. But what about IP? Do you get any engineers? Wasn't the engine group spun off a few year's back? And wasn't suspension engineering moved to GM years ago?

I'd hope there's something in the asset list that's actually relevant to the brand.

thats´s right .Suspension was moved to Opel years ago ,I know a guy who worked at Opel in development of Saab suspension development in Germany but i´m not sure if everything was transferred to germany as the guy raved about how impressed he was about the Saabs capabilties compared to the then opel cars he was used to..this dates back around 6years if I remeber correctly .

[Pup]

I could find only one comment from Bernie, in "Dagens industri" which would translate to "todays industry". He says that Saab is a good brand which got ruined by its owner, that's it.

Anyway I think Saab is done now, it's too late. GM is already moving the tools needed for production of the new 9-5, apparently they are going to be used to build Buicks in China. I don't know why but I have a strange feeling that they don't want to sale Saab for some reason

That tooling is for the current model, not the new one. I think China is also getting the previous 9-3.

But there is a feeling that some in GM don't want a sale to happen. The talk is that the new 9-5 was to be their flagship on the new platform, and is quite a car. They don't want someone else to have it, and some of the division heads are fighting to take over the project, badged as a Caddy, Chevy, or whatever.

I can believe it, since that's exactly the type of infighting that ruined SAAB in the first place. None of the other divisions wanted SAAB competing with their own offerings - Caddy didn't want them to be a luxury group, Chevy didn't want them to be sporty, Saturn didn't want them to be practical, and no one wanted them to take the technical lead. That left SAAB with nowhere to go.

With so many groups wanting a piece of SAAB right now, you'd think someone at GM would wise-up and realize that perhaps it isn't SAAB that's the problem.

[xpensive]

GM and the final insult.

The tools for the old 9-5 has already been sold to Bejing automotive, this is about the tools for the new 9-5 to be shipped to some GM-plant in China to build them as - Buicks!

http://www.svd.se/naringsliv/nyheter/sa ... 059601.svd

[Pup]

I find that rumor very hard to believe. This from a guy who could believe in SAAB F1.

That is, unless the other GM division heads are so scared of the new 9-5 that they want it shipped off to China.

[xpensive]

But this is only if MrE cannot help it of course, why he has re-iterated his committment today;

"The suits from Michigan think they've got me by the balls, but their hands are not big enough!"

[Pup]

One thing I'm completely confused on is what exactly you get when you hand GM a check.

[Pandamasque]

sniffpetrol: Bernie SAAB bid latest: "I want a way to know what it feels like to LOSE money for once!" the microscopic billionaire quips.

[xpensive]

MrE in today's Swedish tabloid;

"Patience with return on my Saab-investment? Do you know how old I am?"

[Richard]

Wait for news that Mr E has signed a 17 year deal, then for the announcement 18 month slater that Donnington is being closed down and sold off for lucrative housing development.

Sorry did I say Donnington, I meant Trollhättan

[Richard]

Latest news...

GM has replaced Saab's managing director Jan Ake Jonsson and his board with Stephen Taylor and Peter Torngren of the restructuring firm AlixPartners.

Meanwhile Nick Reilly, President of GM Europe, said that even though it had begun the process of winding down Saab, it was still talking to “at least a couple of potential buyers”.

Genii have confirmed they will be putting in a revised formal bid today, while Spyker say they are still talking to GM http://online.wsj.com/article/BT-CO-201 ... inesEurope

As all this goes on, GM announced an act of cultural vandalism (possibly too emotive by me!) by saying the new 9-5 technology will go in the bin I doubt it, I'm sure we'll find some of the drive train and chassis development will recycle back into the Epsilon platform. Looks like VW will be the first with Halex AWD to market (SAAB only had 1 year exclusivity) http://en.wikipedia.org/wiki/Haldex_Traction


http://business.timesonline.co.uk/tol/b ... 985340.ece

[xpensive]

MrE on Spyker today:

"Spyker, what the h**l is Spyker. I booted those wooden-shoes out of F1 and I will do it again."

[raceman]

Bernie: "I want a way to know what it feels like to LOSE money for once!" the microscopic billionaire quips.

+1

I kinda like this statement.....

utter confidence

[xpensive]

Latest news over here is that the Spyker deal with GM is done and the 400 MEUR of EIB money will be released.

Sadly, with the Swedish taxpayers as security.

[sebbe]

I guess that people in Trollhättan and Västgötaland are not concerned about the EIB loan right now. They are more concerned about their communities not becoming a ghost city instead of that.
The Swedish car industry accounts for 8.000 employees. To back a loan is a gamble worth taking.

Of course that backing a loan taken by Koenigg to run Saab would be much more secure. You need them to keep bringing expensive toys for your entertainment.

[WhiteBlue]

Genii Capital pulls out of Saab bidding process

http://www.thelocal.se/24586/20100126/?