- Saab's deal for a Chinese rescue plan has come under fire from General Motors.
- GM said that continuing to supply Saab 9-4X vehicles and technology to Saab's Chinese owners would "not be in the best interests of GM shareholders."
- Saab said it will hold discussions with its Chinese rescuers to try to iron out a deal.
DETROIT — Saab's deal for a Chinese rescue plan has come under fire from General Motors.
"Although General Motors is open to the continued supply of powertrains and other components to Saab under appropriate terms and conditions, GM will not agree to the continuation of the existing technology licenses or the continued supply of (Saab) 9-4X vehicles to Saab following the proposed change in ownership as it would not be in the best interests of GM shareholders," wrote James Cain, a GM spokesman on Tuesday in response to an e-mailed query from Inside Line.
GM has to approve any deal since it still has preference shares in Saab and has supplied the embattled Swedish automaker with components.
GM operates in China in a partnership with SAIC Motor Corp.
Saab owner Swedish Automobile said in a statement on its corporate Web site that talks were taking place between it and Chinese investors Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile.
"Swan and Saab Automobile acknowledge the position taken by General Motors and will now discuss with Pang Da and Youngman to see whether a structure can be agreed which is acceptable to all parties concerned," it said.
GM's move has called into question the viability of Saab, which has been under court protection from creditors since September.
Victor Muller, Saab's chief executive, told Reuters on Tuesday that he expects to speak with the Chinese companies today to consider the remaining possibilities for Saab.
Inside Line says: Saab's future once again hangs in the balance.
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tbone85 says:
08:35 PM, 11/09/2011
I suspect that GM's relationship with Chinese car companies conflict create some sort of conflict with the Chinese companies who purchased Saab.
jscion says:
06:48 PM, 11/08/2011
What threat could Saab be to GM products in China with all of three vehicles?!?! Besides, even though the 99-3, 9-4X, and 9-5 are all based on GM's, they all look, act, and feel just like Saabs.....I just hope someday I can drive off a dealership lot in a brand new Saab 9-3 convertible, or whatever it ends up being called....if there still is a convertible model.
carnutz829 says:
05:36 PM, 11/08/2011
Saab's have always had reliability problems but being under GM was always a problem all on its own no one wants a rebagged Chevy interior and that's what you get when you open the door. GM always put Saab on the back burner with those high prices. It's not a Caddy and it defiantly doesn't have the interior to compare to one so why keeps those high prices. Now that times is bad they want nothing to do with them. All that said I hope they make a comeback cause I've always wanted one since I was in my teens. If they do come back come with some competitive prices so everybody can afford one. Starting in the 30s for the 9-3s is crazy and mid 40s for a 9-5 well that being said maybe a Caddy not looking so bad after all. If the Chinese take over one thing for certain they will be reliable.
jonthecarguy says:
02:35 PM, 11/08/2011
*%#@ off GM!
angry_mushroom says:
02:06 PM, 11/08/2011
Newsflash:
GM continues it's attempted murder of Saab by waving useless technology around room.
gordancin says:
01:02 PM, 11/08/2011
I don't really know much about these affairs but... these investors really want to get experience with a (admittedly limited) North American distribution network that gives them a start... wouldn't it make sense for Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus to push towards making this deal work?
qdp says:
12:49 PM, 11/08/2011
Don't Think It Is A Real Roadblock. Just get rid of this GM thing,9-4x from the deal by reducing some deal price to the new owners. Then Saab gets saved and workers get paid.
9-4x is a GM product, which is, the same as other GM cars, senselessly bland in exterior styling and stupidly big and clumsy in size. It is really not worth any effort and money to keep it in the deal.
As GM itself has been beng in trouble all the time and hasn't get around in either product offerings or company's culture, esp. in management levels, so the new Saab should avoid to getting tangled with those trouble GM things if it wants to revive in future, period.
lions208487 says:
11:58 AM, 11/08/2011
The real question is. If Saab does survive, who will buy their product if it doesn't exceed our standards?
If Saab does make it, their product will have to be perfect in terms of reliability and build quality other wise they will fail anyway.
Who cares how it looks, if it doesn't run at least as good as a Honda, I wouldn't want to step behind the wheel of it.
zimtheinvader says:
11:05 AM, 11/08/2011
" The Chinese already have this from reverse engineering."
have you seen the videos of the chinese cars being crash tested?
jeremy_c says:
10:57 AM, 11/08/2011
This time for sure Saab is finished. It is clear to everyone that GM does not want another competing brand in the lucrative Chinese market. GM will make sure Saab does not survive. The notion of passing on the 9-4X technology to the Chinese is ridiculous. The Chinese already have this from reverse engineering.