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Monday, December 19, 2011

Saab files for bankruptcy ...

The newest press release of Saab is very sad. Today Saab filed for bankruptcy with the District Court in Vänersborg, Sweden. The court will decide very shortly.

This happened after several attempts to configure a deal with the chinese companies Pang Da and Youngman as well as other bodies, which would fund a restart of Saab in exchange of ownership rights in Saab. All attempts were vetoed by GM, which holds copyrights and patents for many technologies used in the current Saab models.

The saga lasts since april 2011, when Saab was forced to stop production and on the road were many ups and downs. Now we are in the same situation than 2 years ago, when GM, the former owner of Saab, decided to close the brand.

But it wasn't closed, so there is still a very small chance, that this is a part of the plan. Very very small. More a desire. The costs to re-run Saab are astronomical, but even in that position there were possibilities to do that. All of them were smashed down by GMs veto, which clearly protects its interest on the chinese market.

It seems, that they weren't ready to approve anything which could lead to a Saab restart in chinese hands.

Hate GM ? Not necessarily, but buy a car from them ? Not necessarily.

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