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”.
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meaning saab is potentially doing good?
SAAB at least have the passion to build better cars and continue to produce cars..the Legacy and the history paint desires to whole brand..love the 9-5 …
Saab 91 soon to be intro ???
Mr Antonov, go back building your planes please….
It would be a sad day indeed to see the Saab brand floundered again so soon after the rescue. Saab would be well served if they can come out with the wagon version of the new 9-5 and a replacement for the 9-3 and a SUV.