General Motors (GM) has decided to shut down Saab, their Swedish brand after some issues arose that they don’t think they can resolve. GM announced earlier that they were close to reaching a deal, but it fell through.
"In the end, Koenigsegg discovered some issues they didn't think could be overcome in a timely fashion," said John Smith, GM vice president of corporate planning and alliances.
Spyker arose as a possible bidder for Saab, but it wasn’t concluded in time, General Motors said.
In both cases, issues arose that prevented a final sale, and they were unable to close the deals. "Like everybody, we would have preferred a different outcome," Smith said.
General Motors intends to sell some Saab technologies to Beijing Automotive Industry Holdings Co. Ltd.
Sources: CNN and the Associated Press
Recent articles from this examiner:
Tiger Woods spends time alone, eating cereal and playing night golf
Watch video: Lieberman asked to stop speaking on Senate floor
Iranian Cyber Army claims responsibility for Twitter hack, but many question if they did it
Video: David Goldman travels to Brazil to bring 9 year old son back to US, court denies him again
Jon and Kate Gosselin will be divorced by weekend; Jon ordered to stop carrying firearms near children
Videos: Chris Henry press conference about Cincinnati Bengals Chris Henry’s death
ABC News reports: Elin Nordegren divorce from Tiger Woods is 100%
Susan Powell’s husband, Josh named person of interest in missing person case
Chris Henry dies after accident, fiancé Loleini Tonga driving truck Henry fell out of
Comments