The Saab story continues. Automotive News and Bloomberg report that all isn't well with the Swedish automaker's Chinese suitors. Saab still hasn't received the $93 million it needs to continue to operate while it undergoes restructuring. The cash was originally supposed to come from Zhejiang Youngman Lotus Automobile in as little as two weeks after a deal was inked, but the process is apparently taking longer than anyone originally envisioned. At this point, Saab doesn't know when the funds will arrive. The company hasn't produced a single vehicle in as much as six months.

Meanwhile, Chinese automaker Geely is denying reports indicating that the company is interested in jumping into the Saab fiasco. As you may recall, Geely bought Volvo in 2010. At this point, the Chinese company says that its resources are currently occupied running its own Swedish brand.

In the meantime, Saab still maintains that it has several unspecified companies interested in potential future partnerships.


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  • 24 Comments
      2 Wheeled Menace
      • 3 Years Ago
      The real news is that Saab is still alive.
      Alex740
      • 3 Years Ago
      It actually makes a lot of sense, the companies in question are probably Chinese and as much hate as there is for Saab on this site it's still a name that will get a lot more respect than an unknown Chinese brand, it's the perfect way for one of them to enter the US and European markets much like Geely is doing with Volvo. Volvo's sales are through the roof right now despite all the silly claims by commenters on here that Volvo was going to go to crap with Chinese ownership. If a Chinese company pumps needed cash into Saab for new models most consumers won't care about Saab's checkered past or Chinese ownership, it's all about the product. And for those who say it can't be done, remember Audi in the early 90s when they almost left the American market due to abysmal sales, consumer's memories are short and with the right products, a come back isn't at all unthinkable.
      drq
      • 3 Years Ago
      let Saab die it's natural death..
      • 3 Years Ago
      [blocked]
        ExoPlanet
        • 3 Years Ago
        Chinese junk....
          Alex740
          • 3 Years Ago
          @ExoPlanet
          Guess what? Most of the electronics in your house where made in China, probably a lot of your clothing and some of your furniture as well and it all has been for years. This popular attitude of all things made in China being junk is ridiculously uniformed.
          whofan
          • 3 Years Ago
          @ExoPlanet
          My underware is made in China. They still have the same ole brown streaks that my USA underware had.
      Easy_Eight
      • 3 Years Ago
      Time to join Tatra, DAF and NSU in quirky car brand heaven
      • 3 Years Ago
      [blocked]
      Aussie Aspie
      • 3 Years Ago
      In my early 20's I suffered 3 weeks of agony because I couldn't get in to see my dentist to have my wisdom teeth removed. Saab has now given every car fan on Earth endless months of agony, yet there's still no "dentist" in sight. If your dog suffered one-tenth as much as Saab has, you'd have put it down long ago......will someone please put this old mutt out of its (...and our) misery?!
      thedriveatfive
      • 3 Years Ago
      Money pit.
      bperlow
      • 3 Years Ago
      Saab, the car thats made that no one wants, or asked for. Why buy swedish, when you can get german for that price..Saabs xwd tech is pretty good..
      jamiescale
      • 3 Years Ago
      1 Word: Why? "A giant boat anchor that fits snugly around our necks? Where do we sign up!?"
      • 3 Years Ago
      [blocked]
      ACSRHS
      • 3 Years Ago
      This is really sad.
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