Paul Tan's Automotive News » Saab

Saab selling off its Trollhattan museum vehicle displays

Anthony Lim — Thu, 19 Jan 2012 06:19:04 +0000

According to a report, bankrupt Swedish automaker Saab is auctioning off its vehicles on display in its museum in Trollhattan. The company is selling the classic displays online, after failing to find a buyer for the entire collection. The collection is now closed except to serious bidders, with the cars available for viewing online.

Bidding on the vehicles closes tomorrow, UPI reported. A total of 131 vehicles are up for grabs, from the 1946 Ursaab, the first Saab ever produced, to modern prototypes. Also on the list are a blue and yellow 1960 racing Saab as well as a 1981 Turbo 900 “Silver Beast,” which was custom-equipped for James Bond, replete with bullet-proof windows and tires, tear-gas ducts and a “SAAB 007″ license plate.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (8) Think (0) Angry (5) Happy (3) Sad (57) Meh (6)

India’s Mahindra & Mahindra linked to bankrupt Saab

Danny Tan — Tue, 03 Jan 2012 02:50:15 +0000

Saab may be bankrupt financially, but it has no lack of suitors. After rumours of a sale to the Turkish government surfaced last week, word has it that India’s biggest SUV maker is an interested party. The said company is Mahindra & Mahindra Ltd, which is interested in buying at least parts of bankrupt Swedish carmaker, two people familiar with the situation said.

The maker of the Scorpio is in the process of trying to set up meetings with the two court-appointed administrators who are overseeing Saab’s bankruptcy, according to the sources, who want to remain anonymous because the plans are private. M&M spokeswoman Roma Balwani declined to comment.

M&M is no stranger to buying a bankrupt company. In early 2011, the Indian brand completed the purchase of a 70% stake in SsangYong Motor Co for about $368 million, as it sought to benefit from the South Korean company’s technology and international sales network. After the takeover, SsangYong revealed that it plans to spend more than 240 billion won ($208 million) on product development and brand building in the year, hinting at M&M’s financial muscle.

Recently, Mahindra also bought out Renault’s stake in the Logan sedan joint venture and took control of Bangalore-based Reva Electric Car Co, so its appetite is obvious. Is Saab about to join the list?

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (7) Think (1) Angry (5) Happy (2) Sad (10) Meh (14)

Saab in talks with Turkish gov’t, according to reports

Anthony Lim — Fri, 30 Dec 2011 02:45:08 +0000

Saab Automobile, which declared voluntary bankruptcy last week, remains determined in its search for a suitor to save it from oblivion. According to reports, the Swedish carmaker is in talks with the Turkish government, after the latter supposedly expressed interest in the carmaker.

Citing sources close to Saab’s management, German mag auto motor und sport reported that the talks have been initiated by Victor Muller, Swedish Automobile’s chief executive, adding that the discussions were still at a very early stage. It was however reported last week that Turkey’s Industry Minister Nihat Ergun said that the government was not interested in Saab.

Elsewhere, another report by Swedish business daily Dagens Industri said that one of India’s largest carmakers may also be interested in buying parts or all of the company. Any deal would however need the approval of former owner and key licence holder General Motors, which blocked the last bid – by the Chinese – to save Saab.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (8) Think (3) Angry (5) Happy (4) Sad (3) Meh (9)

Saab suspends warranty coverage on its US vehicles

Anthony Lim — Wed, 21 Dec 2011 03:51:48 +0000

The not-so-pleasant news continues. Saab Automobile, which declared voluntary bankruptcy on Monday, has suspended warranty coverage on all of its vehicles in North America, according to a report. The suspension came into effect the same day the company’s bankruptcy petition was approved by a Swedish court.

Effective December 19, “warranty coverage is suspended indefinitely for all new Saab vehicles sold. During this period, the warranty booklet must be removed from the owner information packet,” Saab Cars North America said in a statement to Automotive News, which carried the report.

The suspension covers new-car warranties as well as powertrain and emission warranties, parts warranty (including safety belts and airbags) and items such as towing, goodwill and recalls/campaigns, among others. All new 2011 Saab models were last covered by a 4-year, 50,000-mile warranty that included roadside assistance, and no charge scheduled maintenance for three years or 36,000 miles.

The Swedish automaker also told its North American dealers that new vehicles must be sold “as is.” According to a Saab spokesperson, the company now has less than 3,000 light vehicles in its US inventory.

General Motors, which owned Saab from 1989 and handled Saab sales and covered warranties until February 2010, has however stated that it will honour warranties on all models sold when it owned the Swedish company.

“In the event Saab cannot or will not fulfill its obligations to administer the warranty programs with its US and Canadian dealers through Saab Cars North America or otherwise, GM will take necessary steps to ensure that remaining warranty obligations on Saab vehicles marketed by GM in the United States and Canada will be honoured,” GM said in a statement.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (4) Think (3) Angry (13) Happy (4) Sad (33) Meh (3)

Saab says goodbye after 64 years – Swedish automaker declared bankrupt after Youngman rescue attempt fails

Anthony Lim — Tue, 20 Dec 2011 03:59:29 +0000

It’s curtains for Saab Automobile after 64 years in the business, as the last-ditch rescue plan by Chinese investor Zhejiang Youngman Lotus Automobile fell through, the attempt blocked by former owner and key licence holder General Motors. The Swedish automaker, which hasn’t made any vehicles since April, filed for voluntary bankruptcy yesterday, and a court approved the bankruptcy request, reports say.

“After having received the recent position of GM on the contemplated transaction with Saab Automobile, Youngman informed Saab Automobile that the funding to continue and complete the reorganisation of Saab Automobile could not be concluded,” Saab’s owner Swedish Automobile said in a statement.

“The Board of Saab Automobile subsequently decided that the company without further funding will be insolvent and that filing bankruptcy is in the best interests of its creditors,” and Swedish Automobile “does not expect to realise any value from its shares,” the statement added. Two receivers have been appointed to run the company.

“There are parties out there that have expressed an interest to pursue a possible acquisition of Saab from bankruptcy,” Swedish Automobile CEO Victor Muller told reporters,. He said that it was now up to receivers appointed to oversee the bankruptcy process to judge such offers, the reports add.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (11) Think (3) Angry (11) Happy (5) Sad (134) Meh (8)

Saab’s owners may be forced into voluntary liquidation, even if sale to Pang Da and Youngman goes through

Anthony Lim — Tue, 15 Nov 2011 04:01:08 +0000

The Saab see-saw continues, and now, there’s a likelihood of liquidation for Swedish Automobile even if the company is sold to Chinese companies Pang Da and Youngman. It seems that the proceeds of the sale – and that of Spyker – may not be enough to pay off creditors.

According to reports, brand owner Swedish Automobile – which has tentative agreements to sell both Saab and Spyker – will consider “all of its options,” including a voluntary liquidation, should the deals go through, the company said last Friday. The transactions – Saab for 100 million, and Spyker for 32 million – are set to raise a combined 132 million euros, though that amount is insufficient to cover the company’s debts of 136.5 million euros, it said.

The company added that a lack of approvals and final agreements on the deals raises questions about the future of Swedish Automobile and any settlement with stakeholders. Earlier in the month, General Motors, which had preference shares in Saab, and which supplies the brand with crucial components, said it would not approve the sale.

The clearance of Saab’s sale is also required from Chinese authorities, the Swedish government and the European Investment Bank. Swedish Automobile’s preliminary agreement with Zhejiang Youngman Lotus and Pang Da is valid until today, November 15.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (3) Think (2) Angry (4) Happy (3) Sad (19) Meh (2)

Saab sale to Pang Da and Youngman to be reworked, after GM makes objections over the deal

Anthony Lim — Tue, 08 Nov 2011 03:15:52 +0000

According to reports, the rescue deal for Saab made by Pang Da and Zhejiang Youngman will have to be redone after General Motors made objections. “We have to go back to the drawing board,” said Viktor Muller, chief executive of Swedish Automobile.

GM said yesterday it had decided to sever ties with Saab, revoking its commitment to supply it with vehicle components and the 9-4X model because of the risks posed by the pending sale of the brand to Chinese owners, the report states.

An official statement from GM put the message across very clearly. “Although General Motors is open to the continued supply of powertrains and other components to Saab under appropriate terms and conditions, GM will not agree to the continuation of the existing technology licenses or the continued supply of 9-4X vehicles to Saab following the proposed change in ownership as it would not be in the best interests of GM shareholders.”

Last week, GM had stated that it would be difficult to support a sale of Saab if the transaction hurt its existing tie-ups in China or its competitive position in other markets. The US automaker still has preference shares in Saab and is a major supplier of vehicle components, and so must approve the Pang Da and Youngman takeover. At this point, the fate of the Swedish automaker continues to hang in the balance.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (1) Think (2) Angry (10) Happy (1) Sad (1) Meh (4)

Saab sold to Pang Da and Youngman for 100 million Euro

Paul Tan — Fri, 28 Oct 2011 10:37:09 +0000

And the deal is done – Swedish Automobile announced today that Saab will be sold to two Chinese companies for 901 million Yuan, which is about RM435 million or 100 million Euro. The two Chinese companies are Zhejiang Youngman Lotus Automobile and Pang Da Automobile.

The deal comes after long negotiations, which included a previous offer from Youngman and Pang Da to buy 53.9% percent of Saab for 2.2 billion Yuan. It looks like the Chinese companies got a better deal now than the previous one. Earlier in the week Swedish Automobile had said it was terminating the investment deal with both companies, so it looks like all that talk has ended up with a very different walk.

The Memorandum of Understanding for the purchase will be valid until November 15 this year, and in the meantime the sale has to get approval from Chinese regulators, the Swedish government, the European Investment Bank and General Motors, Saab’s former owner.

This is not the first Swedish automaker to end up in Chinese ownership – Volvo is now owned by Chinese company Geely.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (6) Think (5) Angry (6) Happy (10) Sad (8) Meh (7)

Saab ends investment deal with Youngman, Pang Da

Anthony Lim — Tue, 25 Oct 2011 04:49:55 +0000

Swedish Automobile, the company which owns troubled automaker Saab, has said it has ended a 245 million euro investment deal with Chinese companies Zhejiang Youngman Lotus Automobile and Pang Da Automobile, following their offer to buy Saab instead of committing to the original deal to invest in its parent company. according to reports.

Youngman and Pang Da had in July signed a non-binding MoU to take a combined 53.9% stake in Swedish Automobile, but now say circumstances have changed, and they want to purchase shares in Saab.

Swedish Automobile’s CEO Victor Muller said last week that the offer was unacceptable, stating that it would trigger every conceivable change of control clause and that would possibly mean the end of Saab, the reports added. He did not disclose the value of the offer.

The termination of the agreements came after Pang Da and Youngman failed to confirm their commitment to the equity investments and to a second deal over bridge funding, though Swedish Automobile added that discussions between the parties were still ongoing.

Swedish Automobile had at the end of September agreed to sell its Spyker Cars operation to American private equity firm North Street Capital, for US$44 million. North Street’s managing partner Alex Mascioli said last Friday that North Street had the capacity to take over Saab should it wish to do, adding that the brand was an undervalued asset that would survive. “I’m willing to do what I can with my resources for Saab,” he was quoted as saying.

By the looks of it, SA’s future remains well in the air at the moment. The company has been struggling for months in its bid to pay suppliers and employees and resume production at Trollhattan.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (1) Think (3) Angry (2) Happy (1) Sad (8) Meh (10)

Swedish Automobile to sell Spyker Cars for US$44 million

Anthony Lim — Fri, 30 Sep 2011 07:35:48 +0000

The journey continues, though on a different tack. Reports say that Swedish Automobile, the company that owns cash-strapped Saab and Spyker Cars, has announced its intent to sell off Spyker to an American private equity firm called North Street Capital for a sum of US$44 million.

Swedish Automobile had early this year said it was going to let go of Spyker, but the name mentioned then was CPP Global Holdings, owned by Russian businessman Vladimir Antonov. A MOU was signed between the two companies in February, but the deal, which was expected to go through, did not; an announcement was made in August saying it had been put on hold.

The deal represents Swedish Automobile’s latest effort to raise capital to turn around Saab, though reports add that the latter may not see the money; proceeds from the sale are to be used to pay off a loan to Antonov. Though the company is being sold, Victor Muller, who is Swedish Automobile CEO, will remain as CEO of Spyker as well. As for the troubled Saab, the journey to being saved continues, but it at least looks like all the time and effort doing so can now be focused on it.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (4) Think (1) Angry (1) Happy (3) Sad (6) Meh (1)

Saab and Youngman to form joint venture to develop three new models: the 9-1, 9-6 and 9-7

Anthony Lim — Wed, 20 Jul 2011 06:35:58 +0000

Saab, through its owner Swedish Automobile, has signed an agreement with Zhejiang Youngman to form a joint venture in Sweden to develop three Saab models. The company issued a statement which said that the 50:50 JV, called the New Product Joint Venture, will be responsible for coming out with three vehicles, these being the 9-1, 9-6 and 9-7.

Saab will be responsible for controlling and managing the design, the development and testing of the new vehicles, utilising its existing capabilities and know-how from Trollhättan, with Youngman pitching in with financial support.

The 9-1 is likely to be based on the 9-X BioHybrid, while the 9-6 will see the resurrection of a SUV project from six years ago that never saw the light – a Subaru B9-based prototype was built, and has now sits on display at the Saab Museum.

The venture is aiming to build the prestige of the Saab brand to an even larger group of customers in China and the US with the 9-6 and 9-7, while the entry level 9-1 is being targeted as a global offering. The agreement between Swedish Automobile and Youngman has yet to be approved by regulators in Sweden and China, reports say.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Saab-Youngman JV to build three new models in Sweden

Danny Tan — Fri, 08 Jul 2011 03:01:23 +0000

Swedish automaker Saab, part owned by Spyker, part owned by the Chinese, has signed an agreement with Zhejiang Youngman Passenger Car Group Co to form a joint venture in Sweden. This 50-50 JV will develop three “completely new” vehicles, namely the Saab 9-1, 9-6 and 9-7, according to Swedish Automobile, formerly known as Spyker Cars NV.

The arrangement will see Saab design, develop and test the new models while Youngman provides financial support. However, the agreement between both parties has yet to get the all important approval by regulators in Sweden and China.

Besides that, Swedish Automobile also said that the Memorandum of Understanding (MoU) signed last month with Youngman and Chinese auto distributor Pang Da Automobile is now a formal and legally binding agreement. Under the deal, Pang Da and Youngman will jointly invest 245 million euros in Swedish Automobile. The trio will set up joint ventures to manufacture and distribute Saabs in China.

As we know, Youngman’s current range in China includes rebadged Protons branded as “Lotus”. Now that they have Saab, will they still need the partnership with Proton?

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Saab’s adventure continues – Youngman joins the party

Anthony Lim — Tue, 14 Jun 2011 11:28:30 +0000

The tempestuous affair that is Saab continues, with another Chinese suitor entering the picture to now make it a three-way deal. The Swedish automaker, owned by Spyker Cars, had been given a shot in the arm in May by Chinese car distributor Pang Da Automobile Trade, which pumped in money to restore Saab’s production and was looking to take a 24% equity stake in the latter.

Now, enter Zhejiang Youngman Lotus Automobile, better known as Youngman, which will form the third element in a joint venture deal. Spyker Cars said yesterday it had signed a non-binding memorandum of understanding for Youngman to take a 29.9% stake and Pang Da to take a 24% share in Saab, for a combined 2.3 billion yuan (US$355 million).

Under the agreement, Youngman will buy an equity stake in Saab for 1.3 billion yuan (US$200 million) and will take a 45% stake in the manufacturing JV, with Saab holding 45% and Pang Da the remaining 10%, according to reports. Youngman will hold a 33% stake in the distribution part of the JV, with Pang Da holding 34% and Saab 33%.

Meanwhile, Pang Da will be forking out 1.0 billion yuan (US$155 million) for its 24% equity stake in Spyker, up from the 605 million yuan (US$93.5 million) it was expected to deploy for its equity investment initially announced on May 16.

As has been the case, this deal hinges on approval from governmental agencies and third parties, involving both Chinese and Swedish governments as well as the European Investment Bank and Saab shareholder General Motors, the reports add. After all that has been happening in recent times, what with the likes of the scuppered Hawtai deal, all at Saab must be crossing their fingers that this one finally comes through.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Saab gets another 15m euro cash injection from Pang Da

Anthony Lim — Thu, 02 Jun 2011 05:20:09 +0000

Saab has obtained another cash injection from Pang Da, its new Chinese partner, according to reports. The Swedish automaker has received a further order for 630 cars, worth 15 million euros, on top of the 1,300 cars worth 30 million euros already ordered by the Chinese company in May.

The new order follows a visit by senior Pang Da representatives, headed by Chairman Pang Qinghua, to Trollhattan, where Saab’s factory is located. Pang Da is paying in advance for the order, with delivery of the vehicles slated to begin sometime in the third quarter.

The Chinese company has already provided Spyker Cars, which owns Saab, with an advance payment in exchange for Saab cars to be sold in China. It raised nearly US$1 billion in its initial public offering in April, and is looking at taking a 24% equity stake in Spyker at a cost of 65 million euros, for 4.19 euros per share as part of a 110 million euro deal, the reports add. Pang Da is waiting for regulatory approval at home.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (1) Meh (0)

Kung Fu Panda saves the day! Chinese auto distributor Pang Da pumps 45m euros into Saab, buys stake in Spyker

Danny Tan — Tue, 17 May 2011 09:35:40 +0000

Cash strapped Saab has a new saviour, just a few days after the deal with Chinese automaker Hawtai fell through. The Swedish brand’s owner, Spyker, has signed a memorandum of understanding (MoU) with Pang Da Automobile Trade Co Ltd, China’s largest publicly traded automobile distributor with over 1,100 dealerships nationwide.

The MoU includes a strategic alliance consisting of a 50/50 distribution joint venture and a manufacturing joint venture (MJV) for Saab vehicles as well as for an MJV-owned brand (a so-called ‘child brand’) in China. Saab will have up to 50% stake in the MJV, with Pang Da and another manufacturing partner owning the remaining shares.

In return, Saab gets what it needs the most for now – cash. Pang Da will pay 30 million euro for the purchase of Saab vehicles and is expected to make an additional 15 million euro payment for the purchase of more Saab vehicles within 30 days, subject to certain circumstances. The 30 million euro initial payment will give Saab the ability to pay its suppliers and the liquidity required to restart production.

In addition, the Chinese company will take an equity stake in Saab’s parent Spyker for a total amount of 65 million euro at 4.19 per share. This equates to 24% of Spyker, and Pang Da will have the right to nominate a member of the Supervisory Board of Spyker and/or the board of Saab.

Isn’t that quite a bit of purchasing power for a car dealer? Well, Pang Da raised nearly 6.5 billion yuan (over 703 million euro) in its initial public offering last month, so it definitely has the means.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Saab-Hawtai deal falls through – Great Wall enters picture

Anthony Lim — Fri, 13 May 2011 02:14:28 +0000

It looks like the reported deal between Hawtai Motors and Saab, which would have seen the Chinese automaker taking a 29.9% equity stake in Saab parent company Spyker Cars for US$172 million, has fallen through.

Apparently, Hawtai was not able to obtain all the necessary consents for the deal, which reports indicate may be because Beijing views the company as too small and too weak to manage the risks.

The reports add that Saab and Hawtai are continuing to work on a deal, but Saab added in a statement that the talks are no longer exclusive. Meanwhile, Chinese SUV maker Great Wall is also in talks with Spyker over a potential tie-up with the Swedish concern, which needs funds to pay overdue bills and resume long-term production.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Saab rescued, again – Hawtai buys into Spyker Cars

Anthony Lim — Tue, 03 May 2011 10:00:37 +0000

A couple of days ago, we reported that Saab was likely to be rescued by investors. Well, the deal is done. The Swedish automaker – and its Dutch owner, Spyker Cars – has confirmed a partnership deal with Hawtai Motor Group, which will see Saab getting funding worth 150 million Euro (US$222 million) and the Chinese automaker taking a 29.9% stake in Spyker.

The announcement follows the 30 million Euro short-term cash injection secured by Saab to restart production, which had been halted since the beginning of April due to a dispute with suppliers over the company’s ability to pay its bills.

Spyker said in a press release that the deal includes financing in the form of subscription agreements to the amount of 150 million Euros as well as a strategic alliance for China including joint ventures in manufacturing, technology and distribution.

“With Hawtai’s clean diesel engine technologies and production capacity, and its ambitious development programs, we have found the right partner to develop the Saab business and build a solid relationship,” Spyker’s CEO Victor Muller said in a statement.

Hawtai, which was founded in 2000, is a Shandong-based company with two production facilities located in Ordos, Inner Mongolia and Rongcheng in Shandong. The company, which formerly had a JV partnership with Hyundai, currently has an annual production capacity of 350,000 vehicles, 300,000 clean diesel engines and 450,000 automatic transmissions.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Saab to be rescued by Chinese and Russian investors?

Paul Tan — Sun, 01 May 2011 10:54:53 +0000

Is Youngman looking to supplement it’s current Proton platform-based offerings with additional more upmarket models? We hear that Saab is nearing to confirming a deal with one out of a total of three Chinese automakers that it is currently talking to, which include Youngman Automobile Group, Great Wall Motor, and Jiangsu Yueda Group.

The deal would allow Saab to raise funds to stay afloat – things are so bad that it has halted production. At the same time, it would allow Saab a way to enter the Chinese market – the world’s biggest auto market. The Chinese company would jointly produce Saabs in China, and can also distribute the cars. A Chinese manufacturer Beijing Auto Industry Corp is already licensing the last generation Saab 9-5 platform and has showcased a concept based on it called the BAIC T60.

Because of the current production halt, Saab will most likely not be able to meet its sales target of 80,000 units a year this year. It did 30,000 cars last year. Sales this quarter was over 9,000 cars, compared to over 3,000 cars the same quarter last year. It’s parent company Spyker posted a loss of 79 million Euros this recent quarter, compared to a profit of 6.96 million Euros the same quarter a year before. They’ve clearly took on something that’s proven to be a little too big for them to handle.

“We have opened up alternative routes to fund the company mid and short term including, but not limited to, discussions with Chinese car manufacturers,” said Spyker CEO Victor Muller. Sweden’s Debt Office and General Motors have also approved a plan for Russian businessman Vladimir Antonov to invest 30 million Euros into the company for a 29.9% stake.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

BAIC rolls out T60 concept from old Saab platform

Danny Tan — Tue, 26 Apr 2011 03:32:17 +0000

Back in December 2009, China’s Beijing Auto (BAIC) purchased intellectual property for Saab’s 9-5 and 9-3 sedans from General Motors, who no longer wanted the Swedish marque. The $200 million purchase will bear its first fruit in the form of an own brand sedan by the end of this year, it was revealed earlier.

At the Shanghai show, BAIC wheeled out this T60 concept car, which shows extensively reworked bodywork over the ageing Saab platform. The T60, which looks very modern, resembles different models from different angles, so it’s a good car to play “spot the inspiration” with.

This shortcut to a new car will go on sale early next year in China. Some might dismiss it as new skin over old bones, but the previous gen Saab 9-5 was sold in Europe only until recently and is Euro NCAP proven – so this should be a safer car than many homegrown models.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Cash strapped Saab eyeing to buy current MINI platform

Danny Tan — Fri, 15 Apr 2011 03:47:25 +0000

Saab’s production workers are now at home, not because it’s a public holiday, but because the carmaker has stopped production “until further notice” amid a row with suppliers over unpaid bills. Rescued by Spyker at the death last January, Saab is not in very good financial health. The fact that it didn’t meet sales targets last year didn’t help.

Sweden’s National Debt Office received yesterday an application from Saab on changes to its financing aimed to save the cash-strapped company. The NDO has a say in Saab’s finances because it guaranteed a European Investment Bank loan to Saab.

A likely saviour is Russian businessman Vladimir Antonov (pic), who last month said he was ready to invest 50 million euros in Saab in exchange for a 30% stake. At the time of Saab’s sale, GM didn’t let Antonov take a stake over concerns that its intellectual property rights will fall into the wrong hands.

Cashflow problems aside, Saab still has ambitions. Reports say that it’s lining up to buy the current MINI platform from BMW, which Munich will retire in late 2012 when an all-new F56 MINI is launched. This is after securing a deal to use the MINI’s 1.6L turbo engine. These are all for Saab’s upcoming “9-1″ small car, which from the looks of it, will be a “MINI with different styling”.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Saab PhoeniX Concept shows off ‘aeromotional’ design

Danny Tan — Wed, 02 Mar 2011 08:19:45 +0000

My first visit to a top international motor show was Paris 2006, which will be remembered as the debut venue of the Audi R8 and concepts like the VW Iroc, which has morphed into today’s Scirocco. All very nice, but there was one display at the Paris Expo that stopped this writer in his tracks, and it wasn’t even a world debut!

That car was the Saab Aero-X concept, a super sleek coupe with a jet style cockpit canopy that lifts upwards. It was a cool nod to Saab’s aviation roots, and guess what, they have repeated the same trick for Geneva 2011 in spectacular fashion. The automotive world would be much less interesting if not for individual brands like Saab – thank god they were saved from death at the last hour.

This PhoeniX concept showcases design features and technologies that will appear in the next generation of Saabs. Based on a new architecture which will underpin the next Saab 9-3, the PhoeniX introduces ‘aeromotional’ design, which Saab describes as “a visual evocation of the aerodynamic design principles and passion for innovation that inspired the creators of Saab’s first car, the iconic Ursaab.”

The slippery PhoeniX has a low drag Cd of just 0.25 and explores the potential for airflow management through the use of distinctive, side-mounted ‘winglets’. Butterfly opening doors give easy access to a low slung 2+2 cabin

The front look sports a stretched interpretation of Saab’s signature three-port grille. A body-colored central wing is now dominant and, in keeping with the car’s minimalist design, LED headlamps are almost invisibly located at its tips. The new grille and hood forms are among the styling themes likely to be seen in future Saab production cars.

At the rear, the tapering form hints at the teardrop rear styling of Ursaab, while the sawn off, kamm tail references Saab’s first coupe, the Sonett.

Under the hood is a 1.6-litre turbo engine with innovative, electric RWD technology. The BMW sourced unit packs 200 hp/250 Nm and includes start/stop functionality, minimal parasitic losses and a fuel cut-off function, which are Efficient Dynamics features. A stainless steel tank, which is lighter and less expensive than a conventional plastic design, is used.

The rear drive 34 hp electric motor is powered by a lithium-ion battery pack that’s replenished by regenerative braking. It’s part of Saab’s eXWD system and torque vectoring is available. Now under development for next gen Saabs, this propulsion system enables the benefits of AWD while also reducing fuel consumption. With a six-speed manual, projected combined cycle fuel economy is just 5.0 L/100 km. 0-100 km/h is done in 5.9 seconds.

More pics after the jump.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

2011 Saab 9-5 SportCombi – initial photo released

Harvinder Sidhu — Thu, 20 Jan 2011 08:37:06 +0000

This is the 2011 Saab 9.5 SportCombi and we now have a single official image to share with you. The SportCombi is pretty much an estate version of the 9-5 sedan and it is also known in certain markets as the SportWagon. This new model is slated for an official launch at the upcoming Geneva Motor Show in March.

The SportCombi is expected to be sold with several practical features including a flexible U-rail load space setup, an adaptable multi-fold floor as well as a stowage under the floor with a sealed wet storage compartment. A programmable power tailgate and a 60/40 split for the rear setbacks should be in the list as well.

Engine and transmission specifications should be carried over from the 9-5 sedan variant such as a turbocharged 220hp 2.0 litre and a 300hp 2.8 litre V6. There is also a 2.0 litre turbo diesel with 160hp. Continue reading to view the above image in high-res fashion.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Saab 9-4X crossover to debut next month in Los Angeles

Anthony Lim — Wed, 20 Oct 2010 04:02:59 +0000

Saab is entering the crossover segment with its new 9-4X, which will make its world premiere at next month’s Los Angeles Auto Show. The vehicle will expand Saab’s product portfolio to three car lines, and is targeted as a fresh, alternative choice for independently-minded crossover buyers.

It will be powered by a 2.8 litre V6 twin-scroll turbocharged engine, offering 300 hp at 5,500rpm and 400Nm of torque between 2,000 and 5,000rpm, mated to a six-speed automatic transmission. Performance figures include a 0-100 kph sprint time of 8.3 secs.

Saab’s XWD all-wheel-drive system, with an electronically-controlled rear limited-slip differential, gets strapped on board, as is as Saab DriveSense, an adaptive chassis function offering real time damping control in three modes – Intelligent, Comfort and Sport. There’s an Eco mode as well; activated via a separate button, it re-maps the throttle pedal and gearshifting patterns for optimal fuel economy.

In design terms, the 9-4X is aligned in looks and size between the 9-3X and new 9-5 saloon, with a front that borrows cues from the Aero X concept car. Outside and inside, it communicates the Saab identity with clean, uncluttered design and signature motifs, such as a wraparound-effect windshield, ice block lighting theme, driver-focused cockpit and flexible cargo handling.

Disguised windshield and door pillars create Saab’s signature wraparound-effect, and other exterior Saab identifiers include the shaping of the headlamps, a ‘hockey stick’ waistline and strong C-pillars complemented by a wraparound-effect rear screen.

The roofline has been visually lowered and extended by a rear spoiler integrated in to the tailgate. At the back, the lighting carries forward a signature introduced by the 9-5 sedan – an ‘ice-block’ bar of LED lights extends across the lower tailgate and wraps around the tail lamps. Twin rhomboid-shaped exhaust tailpipes, integrated into the lower bumper molding, round off the rear.

Inside, the five-seater features a sweeping, single form centre console finished with a carbon-fibre effect trim, as well as a number of subtle references to Saab’s aviation heritage, including a selectable, aircraft attitude-style speed read-out, green illumination for the three main dials’ needles and traditional Saab ‘joystick’ adjusters for the mesh-style air vents. Being true to tradition, the ignition – in the form of a start/stop button- is naturally in located between the front seats, next to the gear shift lever.

Plenty of cargo space options at the back too – you get single movement fold down 60/40 split rear seats, which provide a completely flat cargo deck in a stored position. A hinged front section of the boot floor provides access to additional under floor storage, and floor space can be tailored as required by an optional, U-shaped track with a telescopic cargo dividing rail, movable to any position to keep items in place.

Other items on the 9-4X’s standard kit list include 20-inch wheels and 235/55 series rubbers, bi-xenon adaptive headlights and a 10-speaker Bose system with 5.1 surround sound and an eight-inch touchscreen, hard disk-based navigation system with 10GB of storage space for music files.

The 9-4X will make its market debut in the US in May next year, with sales in Europe and other global markets starting from August 2011.

Gallery after the jump

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Official: BMW 1.6L turbocharged engines for Saab!

Jacob Alexander — Fri, 01 Oct 2010 07:00:06 +0000

BMW will supply Saab Automobiles with engines for its vehicles from 2012 onwards. Ian Robertson, member of the Board of Management of BMW AG, and CEO of Saab Automobile, JanÅke Jonsson, signed the agreement on Wednesday in Trollhättan.

BMW will be supplying the Swedish brand with four cylinder 1.6 litre turbocharged gasoline engines which will be modified to meet Saab’s requirements. The engine, which is most probably the 1.6 Prince found in the Cooper S, will be used in the upcoming 9-3.

Saab CEO Jan Åke Jonsson said that he looks forward to integrating the technology from both companies into the next-generation vehicles in a true Saab way.

“This is a major step for Saab on our road to becoming a profitable independent premium car maker. In line with our strategy, we will continue to capitalize on our own engineering expertise while also working with the very best partners. Both parties are open to explore further opportunities as part of this relationship in the future,” said Victor Muller, Chairman of Saab Automobile.

There was no mention about specific numbers or the possibility of BMW supplying Saab with a platform for their 9-2 model, but they did hint towards more tie-ups in the near future. All we have to do is keep our ears to the ground.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Saab to use BMW engines for upcoming models?

Jacob Alexander — Mon, 27 Sep 2010 17:19:53 +0000

According to an unconfirmed source close to the Saab and BMW discussions, both automakers have come to an agreement in which BMW will supply engines to Saab. Saab is said to be purchasing BMW engines to use in their upcoming 2012 9-3 model.

Officially both companies have not announced or confirmed anything, but the source says that news of the pact will be announced on the 29th of September, which is just before the Paris Motor Show.

According to a statement by Spyker, parent company of Saab, they confirm “that talks are ongoing and will give further details once a final agreement has been reached”. Spokesmen for BMW and Saab both declined to comment. Obviously hot on everyone’s lips is Saab’s new MINI rivaling 9-2 model.

According to the same source, they have been allowed to use the Mini Countryman’s platform for the new Saab car. Along with this, they are in talks about buying BMW’s refined diesels. There is also word that Saab plans to tap into BMW’s Efficient Dynamics initiative.

We’ve only got a few days to wait to confirm the legitimacy of these claims, but if you think about it, it does save a lot off your R&D budget by just buying engines from a reliable source. Who better to buy it from than BMW? We will keep you updated as and when we hear something substantial.

Source

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Saab 9-3 ePower Sportwagon – Saab’s foray into the EV market

Jacob Alexander — Tue, 21 Sep 2010 04:03:52 +0000

Saab will be bringing their very own electric vehicle to Paris for the upcoming motor show. Based on the current 9-3 Sportswagon, the 9-3 ePower will be a prototype undergoing extensive trails in Sweeden next year.

This will be made up of 70 vehicles in their test fleet, which will be tested under real world driving conditions. The 9-3 will be motivated by a 135 kW/184 hp electric motor linked to a 35.5 kWh lithium-ion battery pack.

Saab says that this accelerates the car to 100km/h in just 8.5 seconds and it allows the vehicle to reach a top speed of 150km/h. They also expect the car to return a respectable 200 kilometres before it needs to be recharged again. This then takes around 3 to 6 hours to a full recharge, depending on the depletion status.

Recharge times can be reduced by using a higher input voltage, as voltage inputs are not limited. The instrument panel has also been modified to accommodate a new display for the battery status, power consumption and driving range, all illuminated in green.

Saab boasts about the 9-3’s battery capabilities as it can operate at full power in temperatures as low as -30 degrees Celcius, which is 10 degrees below current battery packs today. It is also said to be able to withstand the test of time with a charging cycle equivalent to approximately 10 years of average use.

Along with that, the use of air-cooling instead of a liquid cooling system has lowered the weight of the battery pack. Saab seems to be taking the right steps to make itself a relevant brand in the near future. Expect more from the Trollhattan-based company. Look after the jump for a picture gallery.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Saab to debut 9-4X crossover at LA show in November

Danny Tan — Wed, 18 Aug 2010 03:30:52 +0000

The Saab 9-4X first made its motor show rounds in 2008 as the 9-4X Biopower Concept. Now that the Swedish marque is alive and kicking under new ownership, it’s ready to debut the production version of the mid-sized crossover. Venue and time? The LA Auto Show in November, as revealed by the show organiser’s Twitter page.

The cleanly designed 9-4X will be built in GM’s plant in Mexico alongside platform buddy Cadillac SRX and should hit showrooms by the first quarter of next year, which is in line with the brand masterplan by Spyker.

Powertrains should be similar to the new 9-5′s – a 220 bhp 2.0-litre turbo four-pot and a 300 bhp 2.8-litre V6 for the Aero. Six-speed manual and auto gearboxes are available from Saab and the 9-4X should come with Trollhättan’s XWD system.

The crossover segment is really booming in the US. Ford, whose good looking Edge has sold 400,000 units in four years, says that the sector has expanded by 220% since 2006. The Blue Oval expects a further 20% growth this year as Americans jump into smaller and more efficient vehicles.

More pictures of the 9-4X Biopower Concept after the jump.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Saab joining the World Rally Championship in 2012?

Jacob Alexander — Tue, 10 Aug 2010 09:05:24 +0000

It has long been a two horse race between Ford and Citroen, but the World Rally Championship could be looking at a revival. With MINI/Prodrive joining the fray next year, Saab could be joining the WRC by 2012, according to reports.

Autosport magazine says that Saab-Spyker CEO Victor Muller has met top officials from the WRC, quoting sources at the WRC claiming that the saved from death Swedish brand will make a partial entry into the 2012 season and full entry in 2013. “We could have four, possibly five manufacturers competing in the WRC in 2012. People are realising that they need to advertise their way out of the tough times we’ve been through,” WRC promoter Simon Long told Autosport. The mag’s insider added that “Saab is looking at the World Rally Championship as the perfect platform to launch a new product and to rebuild the brand.”

This could be the new small Saab that the company is finding a partner for, and BMW’s MINI platform and drivetrains are being eyed, according to the rumourmill.

Saab was active in rallying in the post-war era, with the 92 and 93 models regularly taking chequered flags. The company quit the sport in 1980.

Source

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Saab announces EV test fleet plans, next 9-3 to be mule

Jacob Alexander — Wed, 04 Aug 2010 01:38:58 +0000

Saab has announced plans to roll out a test fleet of electric vehicles within the first quarter of 2011. The Trollhattan based company will use global locations for the test fleet including home country Sweden. Housing the EV tech that’s being researched will be the next generation 9-3.

Saab’s EV test fleet will be launched in partnership with Boston-Power and Electroengine. Boston Power is a Massachusetts-based company that manufactures lithium ion batteries while Electroengine is a Swedish firm that modifies conventional combustion engine vehicles into high performance electric vehicles.

“The main purpose is to draw technology from this test fleet, technology that we can then incorporate quickly. The key target short-term is to drive fuel consumption down. You can electrify certain portions of the vehicle,” said Jan Ake Jonsson, CEO of Saab Automobile AB.

Victor Muller who is the chairman of Saab and CEO of Spyker Cars also touched on the impending Saab 92 small car, calling it “the missing link” and confirming that they have almost everything in place, including the design and specifications. “The only missing link is making the contract with a potential partner and how we are going to fund it. It’s currently not in our business plan, but it has a compelling business case,” he said.

There are speculations that Saab’s small car will use BMW’s MINI platform and drivetrains.

Source

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Saab Automobiles – now officially 100% GM free!

Jacob Alexander — Thu, 08 Jul 2010 07:32:02 +0000

Good news for Saab, as Spyker Cars announced that they have paid General Motors off in full. The final payment of $24 million was actually due on the 15th of July 2010 but Spyker has opted to pay the amount two weeks early.

A statement from the company confirms that the source of the funds was internal and has not increased the company’s external debt or caused a share issue problem causing the dilution of existing shareholders. No word on the source of the funds, but all that they’re letting out is the fact that it became available after the acquisition of Saab Great Britain Limited by Spyker on the 31st of May.

This as mentioned before has officially released Saab from the shackles of GM and will help in the realisation of the company’s long term plans. The most recent of all was to sell Spyker supercars such as the C8 Aileron in Saab dealerships.

This story originally appeared on Paul Tan's Automotive News on Tue, 14 Feb 12 08:01:44 +0000.

This story makes me...

Excited (0) Think (0) Angry (0) Happy (0) Sad (0) Meh (0)

Paul Tan's Automotive News » Saab

Saab selling off its Trollhattan museum vehicle displays

Related Posts

India’s Mahindra & Mahindra linked to bankrupt Saab

Related Posts

Saab in talks with Turkish gov’t, according to reports

Related Posts

Saab suspends warranty coverage on its US vehicles

Related Posts

Saab says goodbye after 64 years – Swedish automaker declared bankrupt after Youngman rescue attempt fails

Related Posts

Saab’s owners may be forced into voluntary liquidation, even if sale to Pang Da and Youngman goes through

Related Posts

Saab sale to Pang Da and Youngman to be reworked, after GM makes objections over the deal

Related Posts

Saab sold to Pang Da and Youngman for 100 million Euro

Related Posts

Saab ends investment deal with Youngman, Pang Da

Related Posts

Swedish Automobile to sell Spyker Cars for US$44 million

Related Posts

Saab and Youngman to form joint venture to develop three new models: the 9-1, 9-6 and 9-7

Related Posts

Saab-Youngman JV to build three new models in Sweden

Related Posts

Saab’s adventure continues – Youngman joins the party

Related Posts

Saab gets another 15m euro cash injection from Pang Da

Related Posts

Kung Fu Panda saves the day! Chinese auto distributor Pang Da pumps 45m euros into Saab, buys stake in Spyker

Related Posts

Saab-Hawtai deal falls through – Great Wall enters picture

Related Posts

Saab rescued, again – Hawtai buys into Spyker Cars

Related Posts

Saab to be rescued by Chinese and Russian investors?

Related Posts

BAIC rolls out T60 concept from old Saab platform

Related Posts

Cash strapped Saab eyeing to buy current MINI platform

Related Posts

Saab PhoeniX Concept shows off ‘aeromotional’ design

Related Posts

2011 Saab 9-5 SportCombi – initial photo released

Related Posts

Saab 9-4X crossover to debut next month in Los Angeles

Related Posts

Official: BMW 1.6L turbocharged engines for Saab!

Related Posts

Saab to use BMW engines for upcoming models?

Related Posts

Saab 9-3 ePower Sportwagon – Saab’s foray into the EV market

Related Posts

Saab to debut 9-4X crossover at LA show in November

Related Posts

Saab joining the World Rally Championship in 2012?

Related Posts

Saab announces EV test fleet plans, next 9-3 to be mule

Related Posts

Saab Automobiles – now officially 100% GM free!

Related Posts