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GM Shutters Saab as Attempts to Sell Fail

 
1,350 views Dec 18, 2009

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It seems that last ditch efforts to find a buyer for Saab have failed, and GM will be shuttering Saab's automotive operations by the end of the year.

After Koenigsegg backed out of its planned acquisition of Saab, it appeared that Spyker might snap up the automaker, but those efforts collapsed.  BAIC has agreed to buy pieces of Saab, but not the enterprise as a whole.

Earlier this week, Boston Power and a few other EV component / system suppliers announced a consortium to build an EV, including Saab.  It will be interesting to see if the consortium now partners with BAIC, or if they find another small automaker with whom to partner.  Since A123 has recently announced a joint venture with SAIC, Boston Power must quickly do something similar, or they may never make it into the automotive industry.

[Source: Reuters]





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Comments (3)

  1. omnimoeish avatar omnimoeish Posted: 12/18/2009 12:43pm PST

    Once GM gets rid of this ball and chain, things should really look better on their balance sheet.
     
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  2. By Roy Posted: 12/19/2009 8:12am PST

    Wasn't this part of the "Old GM" and already written off anyway?
    It is too bad that Saab and Saturn deals both failed, is the Hummer still a go?
     
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  3. By Neil Posted: 12/26/2009 7:04pm PST

    Being bought by GM is a bit like being bought by Micros**t.
    You're doomed.
    It's just a matter of time.
     
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