The latest video from the crew at Petrolicious covers one funky Swede - a 1989 Saab 900 SPG. Produced from 1978 to 1998, the 900 enjoyed a long history, and thanks to its iconic look, it's quickly becoming a modern classic for the off-kilter car enthusiast. The SPG, short for Special Performance Group, makes this a particularly rare find, with owner Jordan Melville saying, "I didn't even realize what I had at the time."
It feels utterly bizarre that we're still talking about Saab, but Reuters is reporting that the bankrupt Swedish manufacturer's American arm has gotten approval from the US Bankruptcy Court to liquidate its assets and pay back creditors. As part of the plan, secured creditors like Ally Financial will receive full repayment. Unsecured creditors, consisting of those affected by abandoned leases and contracts will get anywhere from 25 to 82 percent of their money back.
The future of Saab could be electric! If it has a future, that is. The Swedish firm famously filed for bankruptcy last December and since then, the saga to save the company has turned into a struggle to revive it. One of the biggest obstacles, it seems, is General Motor's unwillingness to allow the technology it licensed to Trollhatten to be transferred to new owners. At least, new owners from China. Yes, it's a real sob (sorry about that) story.
Nearly three months on the Saab story is the same: company makes a bid, General Motors knocks it back. But this time, the latest round of corporate "He said/She said" puts Turkey's Brightwell Holdings on the other side of the table instead of a Chinese company. Brightwell was the other publicly identified bidder for Saab that pledged to make a bid, along with Chinese concern Youngman.
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