Reuters reports General Motors has dismissed claims by Spyker outlined in a $3 billion lawsuit. Spyker alleged GM deliberately bankrupted Saab by preventing a deal with Chinese investor Zhejiang Youngman Lotus. GM, meanwhile, filed a response with the U.S. District Court for the Eastern District of Michigan saying that as the former owner of Saab, GM had the legal right to approve the deal with Youngman. But Spyker's lawsuit claimed GM's refusal to approve the deal with Youngman stemmed from the fact that the American automaker didn't want to create a competitor in China.
GM has said the issue stemmed more from the fact that it would stop licensing its technology to Saab or stop building vehicles for the manufacturer in the event it was bought by Youngman. Since Saab built its own platform that didn't use any GM tech, Spyker says that argument is meritless.

The lawsuit has Spyker seeking $3 billion in compensatory damages, though that number could swell with interest, punitive damages and legal fees, as well. Victor Muller, Spyker chief executive, has said the lawsuit is being funded by an anonymous third party. That party will share in any settlement. Youngman has refused to comment on whether or not it's footing the legal bill.


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    • 1 Second Ago
  • 10 Comments
      GML
      • 2 Years Ago
      Out of curiousity, was the deal to sell Saab to Spyker done under "Old GM" or the current GM?
        Philthy
        • 2 Years Ago
        @GML
        According to timeline it was current GM that sold Saab - GM emerged from Chapter 11 in 2009 and sold Saab to Spyker in 2010.
      JonathanBond
      • 2 Years Ago
      GM didn't want a competitor to Buick because Buick is a hot seller in China. Simple as that
      • 2 Years Ago
      [blocked]
      chromal
      • 2 Years Ago
      Go SAAB! Beat some blood money out of the company that destroyed you, then dust yourself off and start building us more turbo SAABs in Trondheim!
      Dark Gnat
      • 2 Years Ago
      Maybe if SAAB hadn't run themselves into the ground in the '90's they would have never been bought out in the first place.
        Philthy
        • 2 Years Ago
        @Dark Gnat
        GM bought into SAAB in 1989 and essentially ran their product planning (or lack of) from then. Derpity derp.
      Eta Carinae
      • 2 Years Ago
      Spyker isn't going to win this lawsuit :/ it will be thrown out.........
      i.own.your.ass
      • 2 Years Ago
      Of course spyker isn't going to win this..... A loss for GM would be another 3B$ from tax payers.....americans are such hypocrites
      budwsr25
      • 2 Years Ago
      I hope spyker gets every penny. If the Chinese wanted to copy the platforms all they have to do is buy a buick and take it apart. It's not that hard.