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]
