The Saab bankruptcy saga continues. GM is still unrelenting and Youngman, the Chinese company who had placed a bid on Saab, has pulled out. As of May 7, the bankruptcy administrators are no longer holding weekly press conference, and this seems to suggest the selling of Saab is close at hand. Who will buy it? Will Saab models continue?
Today, it is being reported that a deal may be in the near future. It appears that National Electric Vehicle Sweden is close to buying Saab and that a deal could be announced soon. I am happy that an automotive company might get Saab. But the question still remains, will Saab models continue? Clearly the 9-3, 9-4, and 9-5 cannot because they are all based on GM productes. However, Saab was developing the so-call Phoenix Platform before its bankruptcy. Will this be a platform that National Electric Vehicle Sweden can use to build electric or hybrid cars? Only time will tell.
Another uplifting story in the Saab saga is that earlier this month, the website SaabsUnited raised money to purchase the last 9-3 Griffin. They raised the money and have purchased the car! They intend to donate it to the Saab Museum in Trollhättan, Sweden. This is certainly a shot in the arm for Saab enthusiasts. SaabsUnited is a great website and I invite everyone to follow their blog for all the latest information on the Saab saga.
Trollhättan Saab Gathering
As hard as it is for me to admit, Saab seems to be done. This past weekend, Saab supporters met world wide to show their support, and they turned out in droves. But today was the last day of work for the employees of Saab, and it was announced today that all cars still in the Saab factory in Trollhättan, Sweden will be crushed. Instead of selling the cars, they will just be disposed of.
It has also been announced that all the cars in the Saab museum, also in Trollhättan, will be sold. Offers are due by January 20. Sadly, Saab is breaking up as is its history. There is still some hope, but the doubt is growing.
I hope Saab’s history is preserved, and I want to highlight the work of one website, SaabsUnited. They have been working hard to spread the word, especially about saving Saab’s museum. Preserving the history of Saab is important to me as well. I just hope someone steps up and purchases the entire museum so that all the cars can stay together.
It is hard to believe that all this is happening because General Motors refused to allow Chinese investors to invest in Saab. Unfortunately, the company needed this investment to survive. Saab filed bankruptcy on December 19, 2011 and there are no plans for a new Saab to emerge. I am disgusted with GM’s handling of the whole Saab issue. Just a few years ago they themselves went through bankruptcy and received millions in bailout money from the United States’ government. How quickly they forget what it was like being in the position Saab is in now. Maybe it isn’t right to blame GM, but when they stopped supporting Saab in 2010, it was clear Saab was going to need an investor to survive, but GM would have to approve of the investment because Saab still used GM products. It seems to me, that GM had to have known they held the key to Saab’s future and felt they would be better off ensuring a competitor’s death. I know one thing, I am proud to drive a Ford!
As always, I will update the blog as the story continues to develop.