It's over. Sobs for Saab. The troubled Swedish automaker has been stalled since April 2011, when it suspended production at its factory in Sweden.
We can blame GM, sold off its stake in Saab as part of GM's own bankruptcy and restructing. GM rejected multiple deals for a variety of reasons, finally selling Saab to the smaller, boutique luxury car company Spyker. But GM still owns a stake in the new company.
The reason that sent Saab over the cliff is simple --
The Chinese are ready to add gobs of cash and basically take control of the new Spyker-Saab but GM doesn't want the Chinese getting their hands on advanced GM technology licenses, according to the BBC.
It's too early to tell what will happen to Saab dealers around the world -- and owners of Saab vehicles, who are a loyal and dedicated bunch. Where will Saab owners get parts and repairs? That's still to be determined.
Saab started out making airplane engines, and began producing cars after World War Two, including the history-making turbo-charged Saab 99. The Saab airplane manufacturing company is separate from the car company, and is not affected by the bankruptcy.
What do you think about the end of Saab?
Here's what several top news outlets are saying --
Find more articles by Green Car Examiner Evelyn Kanter on Great Drives.
Comments