China’s Beijing Auto to assist Koenigsegg with SAAB purchase

As we reported last week Koenigsegg will not seek additional Swedish government funding in its purchase of SAAB from General Motors, however, according to a report published by Reuters Newsagency today, China’s Beijing Automotive Industry Holdings Company will take a minority stake in Koenigsegg to further assist the group with its purchase.

It’s the second such [...]

Saab 9-5 revealed ahead of Frankfurt

Saab has today released more details of its new 9-5 model flagship ahead of next month’s Frankfurt Motor Show.

The new 9-5 will play an important role in moving the Saab brand forward under its new owners Koenigsegg which plans to complete its purchase of the brand from GM shortly.

Investor sells out of Saab rescuer

Following reports that the Swedish Government was investigating claims that there were problems with the investor base of niche sports car maker Koenigsegg, which is planning to take over General Motors subsidiary Saab, Reuters Newsagency says a major investor has sold his share in the company.

North American investor Mark Bishop has sold his 22 per [...]

GM agrees Saab sale to Koenigsegg

Financially challenged US carmaker General Motors has announced that it has agreed with Koenigsegg Group AB to a Memorandum of Understanding for the purchase of Saab Automobile AB, its loss making Swedish automotive arm.

GM says the deal with the consortium, led by Koenigsegg Automotive AB, will secure Saab’s future.
The sale, expected to close by the [...]

Saab expects sale by Friday

Saab has said it is likely to unveil its new owner this week, and that three quarters of its creditors had agreed to a proposed write-down of the brand’s debt.

Saab is not commenting on who its new owner could be but reports say General Motors is close to selling the loss-making brand to Swedish luxury [...]

Opel future hangs in the balance

The fate of Opel/Vauxhall, the beleaguered European subsidiary of General Motors, hangs in the balance after 12 hours of talks broke down with GM revealing the company needed an extra 300 million Euros (US$415 million) to survive.

By David Twomey in Berlin
At the same time the talks did narrow Opel’s suitors down to two companies, Italian [...]

Leaner GM dumps Pontiac

General Motors has decided to abandon one of its most revered nameplates, that of Pontiac, as part of its desperate measures to save itself from Chapter 11 bankruptcy in the United States.

At a press conference in Detroit a short while ago the Chief Executive Officer of General Motors, Fritz Henderson, outlined “an updated Viability Plan [...]

GM prepared to ‘give away’ Opel/Vauxhall

General Motors Corporation is prepared to part with a controlling stake in Opel/Vauxhall for nothing but a pledge to invest directly in a new company formed from its European operations, the Financial Times said on Sunday, citing two people familiar with its plans.

Reuters newsagency quotes the respected British business newspaper as saying an investor will [...]

Saab 93 Aero TTiD Long Term, we say goodbye

It has been a mixed bag with the Saab 93 Aero TTiD. Having driven a few Saabs, I knew I’d either hate this or love it from the first moment. To begin with I fell in love with the uniqueness of this Saab. The super comfortable seats and attractive exterior styling make it a desirable [...]

SAAB could have up to five buyers

Saab managing director Jan-Ake Jonsson says he aims to identify a new owner for the brand within two months, and that there are five parties interested in buying the brand.

Though Mr Jonsson was not specific in naming the interested parties there has been some speculation that Chinese manufacturers Geely and Dongfeng are strong candidates for [...]

Opel set for partial split from GM

It seems the break-up of the General Motors worldwide empire is becoming inevitable with the latest reports indicating that the major European operation, German-based Opel, will be at least partially spun off from its US parent.

Reuters newsagency says Opel has agreed to a restructuring plan that aims to save as many jobs and factories as [...]

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