Chinese Step In And Toss Saab A $95 Million Lifeline

Chinese Step In And Toss Saab A $95 Million Lifeline
Saab said today it has arranged 70 million euros ($95.6 million) in bridge financing with the help of a Chinese guarantee, buying some time as it seeks court protection from creditors.

Parent company Swedish Automobile NV, in a statement, said Saab has signed a technology license agreement with a special purpose vehicle, or SPV, for 70 million euros.

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Joe_LimonJoe_Limon - 9/12/2011 12:51:23 PM
0 Boost
It would be funny to see SAAB becoming the worlds largest manufacturer in a decade or two :P


dlindlin - 9/14/2011 4:35:00 PM
+1 Boost
What technology?


mini22mini22 - 9/12/2011 5:33:26 PM
+1 Boost
I would say the Chinese government needs to make a decision and very soon.By delaying a decision the unions will probably force Saab's hand.As I stated Victer Mueller is not a manager. He very good at negotiating and inking deals. But he clearly underestimated the costs of operating Saab.Frankly with the bad will Saab has forced on the union's if anything goes through Saab might be better off by an unused factory in the US and starting production here. At least with the dollar Euro ratio Saab would have a break on profitability.


dlindlin - 9/13/2011 12:13:55 AM
+1 Boost
Some Chinese are not very smart......


motor1motor1 - 9/13/2011 12:59:03 AM
+1 Boost
Make cars people actually want to buy! Even your all-new flagship 9-5's interior in most eyes is identical to the Saab 9000 of 15 years ago. Not only is there little to no attraction for new buyers to the brand, but older customers won't bother upgrading because what's the point if there's nothing visible to upgrade to?


MorePowerMorePower - 9/14/2011 3:34:51 AM
+1 Boost
I do not believe it was the "dated" design of the Saab's dash that kept people from buying. Why would a customer pay $33k+ for a turbo four cylinder car when there are a plethora of very capable V6 with more power, better fuel economy and a better reputation of quality.

The Saab 9-3 based on the Chevy Malibu platform is what killed Saab!


MorePowerMorePower - 9/14/2011 3:03:16 AM
0 Boost
Saab has much better brand recognition and status than Cherry or BYD. This was a great move on their part: engineers and experience making cars that meet both EU & North American safety regulations and distinctive styling.


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