You may remember from yesterday that Spyker put a deadline on their latest offer to buy Saab from GM. It now appears that deadline was as flexible as a Saab convertible.
The Dutch manufacturer has just issued a brief comment stating, “Spyker has been in contact with GM today, and continues to develop its proposal for the purchase of Saab. Spyker has extended the validity of its proposal therefore until further notice.”
Since announcing they would be winding down Saab’s operations GM has received new interest from parties ready to take on the Swedish manufacturer. Dutch sports car maker Spyker was the last company to have a serious crack at buying Saab and while GM has already knocked them back once, they have launched a new bid.
Spyker’s chief executive Victor Muller claims his company’s new offer resolves the issues raised by GM late last week, “We have made every effort to resolve the issues that were preventing the conclusion of this matter and we have asked GM and all other involved parties to seriously consider this offer.
“We are very confident that our renewed offer will remove the impasse that was standing in the way of an agreement on Friday, and this would still allow us to conclude the deal prior to the expiry of the deadline originally set by GM.”
For their part General Motors have released a brief statement stating, “Following Friday’s announcement that GM will begin the orderly wind down of Saab, GM has received inquiries from several parties. We will evaluate each inquiry. We will not comment further until these evaluations have been completed.”
More news as it comes to hand.
Update: Full statement from Spyker added below.
“We will work closely with the Saab organization to wind down the business in an orderly and responsible manner. This is not a bankruptcy or forced liquidation process. Consequently, we expect Saab to satisfy debts including supplier payments, and to wind down production and the distribution channel in an orderly manner while looking after our customers.”
And with those words, GM Europe President, Nick Reilly, brings to an end General-Motors’ 20 year ownership of Saab. More seriously, those words also announce the demise of the Swedish brand after buyout talks with Koenigsegg and, more recently, Spyker could not be finalised.
The motoring industry needs brands like Saab. It needs a company that is prepared to present alternative thinking to the market. Of course, a lot of that sometimes oddball thinking had been homogonised by GM, but there was always a glimmer of hope that the old Saab could break through.
GM has extinguished that last glimmer of hope. The motoring world is now a poorer place.
Or is it? Already a movement to save the company has started. But can Rescue Saab come to the party and provide a genuine solution?
A full statement from GM can be read after the jump, along with a short gallery of images to pay respect to the other Swedish car company.
Koenigsegg have announced they are pulling out of their agreement with General Motors to purchase Saab. Months of negotiations have, ultimately, counted for nothing.
“We regret that after six months of intense and determined work we have come to the painful and difficult conclusion that we are unable to complete the acquisition of SAAB Automobile,” said Christian von Koenigsegg.
The Swedish supercar maestro had teamed up with Beijing Automotive Industry Holding Co to forge a deal that would see Koenigsegg have the backing to buy Saab, in exchange for handing over a minority share to the Chinese.
Christian von Koenigsegg explains, “Unfortunately, delays in closing this acquisition have resulted in risks and uncertainties that prevent us from successfully implementing the new SAAB Automobile business plan.”
For their part, GM are understandably upset, “We’re obviously very disappointed with the decision to pull out of the Saab purchase,” said GM President and CEO, Fritz Henderson. “Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week.”
[Source: Wall Street Journal | Pic: Carstudio.it]
Saab, all excited at being bought out by Swedish supercar kings Koenigsegg
The manufacturer describes its new car as “sleek, sophisticated and unmistakably Saab”. Hard to argue with that after looking at these fresh images. But its not just all cool Scandinavian design, there’s quite a bit of techno stuff on offer too.
There’s Saab’s Haldex-based all wheel drive system XWD, featuring eLSD, a head-up information display showing crucial information on the windscreen, adaptive technologies for the car’s headlights and cruise control and dynamic parking assistance to name a few.
Saab will be offering a range of engines across the 9-5 range, with three fuel options—petrol, diesel and E85 bioethanol. All engines will be turbocharged, of course, with most being four cylinders. The exception being the range-topping 2.8 litre V6 with 221kW (300bhp) and 400Nm of torque. That should move along quite nicely, thanks very much.
The inside of the new 9-5 looks just as smart as the outside, too. Although the gloss finish on the centre console might lose its sheen after a short while.
Jan-Ã…ke Jonsson, Saab Automobile’s Managing Director, knows just how important the 9-5 is and makes some bold claims for the company going forward, “This car is the start of a new era for our brand. We have created an advanced and very distinctive product by leveraging the power of our roots in key areas, such as progressive Scandinavian design, sporty driving and responsible performance. The new 9-5 delivers in all these respects, as will every future product from Saab.”
So, will the 9-5 prove to be a vibrant new star under the company’s new ownership? Or will it it fade into obscurity once again? Let’s hope it is a success, as Saab has a history of offering the market something conventional, yet entirely different all at the same time.
Lots more after the jump.