A court hearing on Monday, December 19 will decide whether Saab remains shielded from creditor claims. If the judge decides to end the reorganization and make Saab face its investors, then Victor Muller and Co. will have a week or so to find an astronomical sum of cash if they want to keep the company operating. In the past week, Saab's administrator asked to step down but was forbidden to do so, Saab received a loan of $80 million from Chinese partner Youngman, and Muller continued discussions with Chinese banks for an $800 million loan.

What hasn't changed is General Motors' stance on the enterprise: it has consistently refused Saab's transfer into Chinese hands, and just two days before the court hearing, officials said the company remains opposed to the latest partnership structure that Muller has presented. Since Muller hasn't been able to create a package amenable to GM that involves Chinese concerns after six months of working on it, we don't know how long the Swedish court will continue to let him try.

The problem is that unless Muller can convince a company like Tata or Proton or Mahindra to come to the table, China is Muller's only apparent sovereign option, and General Motors is unwilling to share its technology, which Saab requires to stay afloat, with a Chinese operation outside GM's established joint venture with SAIC. And those other companies are buried in the work of repairing their own automotive acquisitions.

It's nearly inconceivable that another OEM would attempt to salvage the shipwreck that is Saab. It's hard to be optimistic about the situation.


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  • 50 Comments
      • 3 Years Ago
      [blocked]
        kevsflanagan
        • 3 Years Ago
        I've been joking that Saab is the Cat of the Automotive World. Saab seems to have 9 lives.
      turbofuss
      • 3 Years Ago
      GM itself is a communist entity. It is unpatriotic and unamerican to buy a GM product. Every time a GM product is sold, it undermines our free market system. GM had no right to steal $53 billion from the American people and invest billions of it in China, its the biggest scam in corporate history.
        Joe
        • 3 Years Ago
        @turbofuss
        GM paid back their government loans a long time ago and ahead of schedule, you dumbass.
      sanmusa
      • 3 Years Ago
      Hey GM, kiss my ass. Your cars are ****.
      Jan Calloway
      • 3 Years Ago
      Why is GM being such a baby? They owned SAAB for 20 years, it was their hands that guided that company to the mess its in today. Now they no longer want it, if they are not man enough to let the company go to the people who want to buy it (the technology mumbo gumbo is bs, guess they never heard of reverse engineering if anyone really wanted to know about GM tech), then at less man up to make the company solvent again. 2 choices.
        Jonathan Lee
        • 3 Years Ago
        @Jan Calloway
        I agree. Saab has always been a company full of potential but short on capital, but it was under the stewardship of GM that Saab languished into the position that it finds itself today. GM -- its hands already full with Buick and Cadillac -- tried to position the brand upmarket, but it didn't put in anything like the cash needed to produce quality products. To add insult to injury, they then gave Saab the awful 9-2X and 9-7X as a pathetic half-arsed pretense of trying to care. If Saab were able to develop a competitive, quality SUV in time to compete with the Volvo XC90 (not a rebadged, outdated tank built on the bones of a utilitarian pick-up), its fortunes would've surely been reversed. It was only when GM really put an effort into making Saab work -- and the first glimpses of the new 9-5 made public -- did its futures began to look up, and then they were forced to sell it. And now they're closing each and every avenue Saab has at escaping liquidation. I know they don't want to watch a former part of its conglomerate die a slow and painful death, but they could at least try to make the arrangement work.
        kevsflanagan
        • 3 Years Ago
        @Jan Calloway
        The problem that GM is having is that the company that wishes to invest (no longer buy) in Saab is a direct competitor to another Chinese Company that GM already has a signed corporation contract with. Allowing the merger if you will would allow that Chinese Company full access to the IP Tech within the Saab 9-3, 9-4X, and 9-5 for pretty much free. Yes they know about reverse engineering (who doesnt really?) but thing is that itself cost money its not free. If you wish to hate on GM hate on the fact they didnt realize that Spyker/Muller didnt have the funds to keep the company afloat for more than a year.
        Jim
        • 3 Years Ago
        @Jan Calloway
        No, SAAB is in this mess because SAAB doesn't have any customers anymore.
        DrEvil
        • 3 Years Ago
        @Jan Calloway
        Get off that broken record. Saab essentially was dead when GM come onboard. Saab in their hay-day (early 80s) basically had 2 cars, the 900 and 9000 here in the US. Saab, Volvo and Audi were the only mid-level luxury. Alfa, Maserati (Bi-turbo) and Peugeot were never serious contenders. Along came Acura, then Lexus and Infiniti. Saab was pretty much done after that. The main reason the 900 retained its basic shape for as long as it did, was because Saab did not have the money to design new doors. The 900 evolved, but it did so around the doors. GM should not give them a single bolt if the sign with these people. The Chinese can have the Saab name and the workers.
        F3L1X
        • 3 Years Ago
        @Jan Calloway
        GM should just cheerfully hand over all the engineering of the 9-4x and 9-5, based on currently produced GM designs, to competitors to their existing joint venture with SAIC?
        • 3 Years Ago
        @Jan Calloway
        [blocked]
      SooooRight
      • 3 Years Ago
      To heck with SAAB, this is what you get for teaming up with GM. GM didn't make your average cars any better with their "technology" but you will now sleep or be buried in the bed you made. GM is just a disgusting auto manufacturer and SAAB is paying the price for hitching their wagon to them in the past.
        • 3 Years Ago
        @SooooRight
        [blocked]
          turbofuss
          • 3 Years Ago
          if Saab was dead before GM then why did they buy them? GM ruined Saab, 9-7x anyone?
      50 AKA Ferrari
      • 3 Years Ago
      We need Megatron to shoot his cannon gun into Saab and kill it once and for all. Spray a can of RAID on them already.
      Mobis21
      • 3 Years Ago
      Many made valid points in their reply but, ultimately, Communist China has only one ulterior motive and that is to control the world's resources. I don't make that claim lightly nor am I asserting any so-called conspiracy. This is just a fact. What is also a fact is that China has not renounced Communism and never will. They have learned from our own oligarchical, capitalistic system and understand how to turn it against us. It is because of the inherent greed in Capitalism that will be our own undoing. There are many greedy corporations who have surrendered their technology in the name of unsustainable slave, labor profits from China. Here in the U.S., we are the ones ultimately who will be controlled by the Chinese. The point is to understand GM's motives. Whether people prefer to think of GM as government run or not, I could care less. What is important is that the Chinese government looks out for their own. Unlike us Americans, that feed on each other and against our own people by passing laws and creating loopholes, making it easy to outsource and off-source jobs and industry; exactly the opposite of the what China is doing.
      • 3 Years Ago
      [blocked]
      • 3 Years Ago
      [blocked]
      Denato Corcoroni
      • 3 Years Ago
      If Saab was a viable brand there wouldn't be any need for discussion of how to handle the remains. The truth is that GM killed an unique brand with GM uniformity. The name has infinitely more value than the engineering that GM saddled it with. The other reality is that Saab fans are too few in number and didn't buy enough new cars to make a difference.Saab enthusiasts live in the past - just like MG, Triumph, Austin Healey, etc. - but new car buyers do not. We know what the Chinese MG look like, but the question is what will the Chinese Saab look like?
        • 3 Years Ago
        @Denato Corcoroni
        [blocked]
        Devin
        • 3 Years Ago
        @Denato Corcoroni
        You say the name has infinitely more value than the engineering yet you also say that Saab fans are too few in number. To me those read as contradictory statements because if the name was really that valuable then there would be many more "fans" looking to buy new cars. Yes the name has history and yes it is sad that Saab is going through this but the fact is the Saab name has lost much of its value over the past couple of years and the longer Saab stands over an open grave the less valuable the name is going to become. Best case scenario some sort of miracle happens and things start to turn around with a new 9-5 but even the most loyal fans of the brand are starting to lose hope that Saab will come out of this as a recognizable entity.
      sk
      • 3 Years Ago
      Instead of the Chinese copy cats,I wonder what the Swedes could attract some one like Mahindra. Their profile is impressive and looks like they have the money. I also like what the other Indian biggie is doing with JLR.I guess stupid a** GM is the main problem there too. http://www.mahindra.com/What-We-do/Automotive/Products
        Famsert
        • 3 Years Ago
        @sk
        Uh except Mahindra has shown themselves to be a bunch of sneaky scum when they flip flopped a million times on entering america.
      AlBongo
      • 3 Years Ago
      RIP Saab. Down with GM! I say we set fire to every GM dealership in the country!
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