The next chapter in the Saab opera has a new protagonist called Brightwell Holdings, a Turkish private equity firm. Brightwell is is perhaps the unknown Turkish entity mentioned last year as having an interest in bankrupt Saab, along with India's Mahindra & Mahindra. A board member at Brightwell said the company will spend two weeks evaluating Saab's assets and then will make a bid, "there's no question."

Turkey doesn't have a national car company, but it does have plenty of automotive manufacturing expertise since Ford, Fiat and Renault have factories there. Brightwell has said it would keep Saab production in Trollhätten, but (and this is only conjecture) along with a decades-old push for a national car company, the increase of Turkish private equity, and Turkey's desire to join the European Union, the bid could have motivating factors beyond the financial.

Regardless, that means we now have two players in the Saab story, with Youngman's renewed run at Saab expected to result in a bid as soon as next week that could exceed a billion euros. It's difficult to imagine that Saab will somehow be rescued, but the ball is still in play.


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  • 31 Comments
      artandcolour2010
      • 2 Years Ago
      better than a soap opera. fingers crossed.
      Gaspari
      • 2 Years Ago
      This thing has more lives than a cat. Take that Jaguar.
      Ace Convoy
      • 2 Years Ago
      Well... Heck if I had a Billion Euro's i'd put down a bid :/ Forget the 9-5 and 9-4x they're the one's that screwed up Saab, the Phoenix 9-3 is what's most likely to save Saab... If they can get out of this Coma called bankruptcy. Let the Turks pick it up :/ I wouldn't let China near Saab since they already own the previous gen 9-3 and 9-5.. they have the means to produce vehicles and most likely if they do resell it it would be worth something to sell again. :/
        PJPHughes
        • 2 Years Ago
        @Ace Convoy
        Actually, it was long replacement cycles that screwed up Saab. Most Saab owners (like me) were waiting for a new product that didn't come...until almost 11 years later. For that, I blame GM and their lack of investment in creating new products. Why replace a reliable, well built '03 9-5 wagon that runs perfectly with exactly the same car in '08 or '09? BMW, Honda, Audi, etc. all have 3-4 year refresh/overhaul cycles. Saab never had that. The new 9-5 is probably the best Saab ever produced, sadly. The '12 wagon was FINALLY the new replacement...sadly, DOA. That being said, there were/are plenty of 900/9000 owners that swore by their cars and never bought a new one after that. That didn't help either.
          BG
          • 2 Years Ago
          @PJPHughes
          That story is somewhat similar to the Leica story. The ultra-durable cameras almost bankrupted the venerable manufacturer because they had long replacement cycles and 40-year old Leicas worked as well as new ones. Profits from sport optics saved them, and now, finally, digital has brought about a revival.
        k9182
        • 2 Years Ago
        @Ace Convoy
        Even if you bought it for € 1M, you'd need to pump so much money into Saab that maybe having € 1B wouldn't be enough.
      dee8817
      • 2 Years Ago
      If I could buy Saab I would reformat the whole company. I would work with Subaru and use the Impreza and Legacy platform for the 9-3/9-3X and 9-5. I think that both Saab and Subaru are unique car companies and would make sense to share technology with the company. Only difference is Saab would be a little more upmarket than Subaru. The 9-4X would probably be a stretched version of the Forester aimed at the X3. Even offer a 9-5X to compete with the Volvo XC70.
        TriShield
        • 2 Years Ago
        @dee8817
        That sounds reasonable, excpet all the Saab diehards would curse you up and down the internet and not buy any of your new Subaru-based cars.
          Slizzo
          • 2 Years Ago
          @TriShield
          Sigh... Saab 9-2x. Just saying...
          jrwgti17
          • 2 Years Ago
          @TriShield
          Would a GM based Saab be any better than a Subaru based Saab?
      mkenjalo
      • 2 Years Ago
      Turkey does have a national car company: Tofaş. It's existed since 1968 - today, they make various Fiats, Peugeots, and Opels, having ended all production of their own models in 2010.
      Ace Convoy
      • 2 Years Ago
      Frankly I like Saab's but I won't get upset if they go... We lost Mercury and I honestly just like the Marquis and Milan :/ GM killed Hummer,Pontiac,and Saturn. Saab...they got lucky and caught a branch on the way to Nameplate purgatory. but that branch is started to snap and Saab was too malnourished to climb to the next Branch and eventually start walking on cliff's rim....
      Awhattup
      • 2 Years Ago
      Maybe it's what they have been waiting for... saab is indeed bankrupt and cheap as hell now
      Car Guy
      • 2 Years Ago
      Even if Saab was given away for free, it takes huge piles of cash to keep the lights of a car company on long enough to get a competitive product developed, built, and shipped out for sale. I fail to see how Brightwell Holdings will be willing to burn that much cash (100's of millions) to get the process re-booted.
      • 2 Years Ago
      [blocked]
      Adrian Elliot
      • 2 Years Ago
      I love it
      stclair5211
      • 2 Years Ago
      Where is Obama?! He loves loaning failing companies money. I think come 2013 he'd be their perfect CEO.
        Falcon62
        • 2 Years Ago
        @stclair5211
        Yes, he did do that... and if he didn't, this article might be about GM, Chrysler, Ford, and myriad of auto suppliers that would have gone out of business. Oh, and the roughly million additional people that would be out of work. The perfect job for Mr. Obama in 2013 is the one he has right now...especially with the lunatics the GOP has looking to unseat him.
        k9182
        • 2 Years Ago
        @stclair5211
        I am a lunatic and I approve this message.
      KAG
      • 2 Years Ago
      Man, when you thought it was dead, boom.
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