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GM granted 30-day extension on Spyker's Saab-related lawsuit

General Motors has asked for more time to reply to the lawsuit brought by Spyker over the Saab affair, and Spyker has agreed to extend the deadline one month until September 28. A quick refresh: Spyker has accused GM of tortious interference in Saab's dealings with the Chinese investors that might have been able to save the company, and intentionally and unlawfu

Breaking
Spyker files $3 billion lawsuit against General Motors over Saab's demise

"Smack." That's the sound of Spyker's process server dropping a big ol' pile of legal documents on the doorstep of The Renaissance Center, home of General Motors – or wherever GM's attorneys live during business hours. Contained therein is a Complaint, filed in the U.S. District Court for the Eastern District of Michigan and demanding a jury trial, that seeks $3 billion in damages due to "the unlawful actions GM took to avoid competition w

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NEV deal to buy Saab delayed

Remember a month and a half ago when we told you that Saab will "soldier on?" Well, we should have written "stand at attention."

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NEV deal to buy Saab delayed

Remember a month and a half ago when we told you that Saab will "soldier on?" Well, we should have written "stand at attention."

Breaking
Saab sold! Again. Probably.

You'll note that we have yet to remove Saab from the dropdown menu at the top of the Autoblog home page. Indeed, for a bankrupt company that hasn't built a new car from scratch yet this year, Saab generates a surprising amount of news, however, little of it has been Jeff Sabatini

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Youngman bids anew for Saab

After withdrawing its original $492 million bid for Saab, Zhejiang Youngman Lotus Automobile has returned to the bidding with a fresh offer of $552 million, according to a report from Bloomberg. Right now, Youngman

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Saab's assets less than one-third of its debts

The Detroit News reports the sum total of the remaining Saab assets is worth less than a third of the defunct automaker's debts. All told, the company owes a hefty $1.9 billion at current conversion rates, though its total property value rings in at a comparatively paltry $532 million. The debt includes $89 million owed to former employees, $107 million to General Motors and $388 millio

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"Shocked" Brightwell drops Saab bid, blames GM intransigence

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 bidd

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China's Youngman to wage new bid for Saab

Ladies and gentlemen, those of you preparing to leave the theater because you thought the Saab opera was over, well, take a seat. After sinking a fair bit of money into the troubled Swedish automaker while chasing the deal, Youngman isn't ready to walk away. According to Reuters, the Chinese firm is ready to make a new bid for the Swedish brand as soon as next week, and it could be worth mor

Report
Saab postpones creditor meeting as talks with Chinese continue

Saab is still working with Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co. to keep the company out of bankruptcy. But with no final deal in place, Saab has decided to delay a November 22 meeting with creditors until the automaker can obtain financing. Saab's parent company, Swedish Automobile, was scheduled to meet

Report
GM taking issue with Saab ownership change

Big trouble is brewing in little China. While Swedish automaker Saab was has agreed to sell itself to Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co. for what seemingly amounts to a pittance ($142 million and up to $854 million in long-term funding), General Motors, Saab's former parent in the United

Official
Saab agrees to be sold to Pang Da, Youngman

Despite shunning a previous takeover bid earlier this month, Swedish Automobile N.V. and Chinese automakers Youngman and Pang Da have signed a memorandum of understanding for the outright purchase of Saab and Saab Great Britain for just &e

Report
Saab scores €13M order, Swedish real estate firm's property offer in the wings

Saab may have finally found a willing partner to buy the company's assets and lease them back to the automaker. According to Reuters, the Swedish real estate firm Hemfosa has agreed to make the move, but the complex financial situation surrounding Saab may make the deal difficult. The European Investment Bank must first sign off on the plan, and both Zach Bowman

Saab's hiring! 500 workers reportedly needed to boost production

Saab resumes production – Click above for high-res image gallery

Saab choosing trendy Royal Oak, MI as North American HQ?

General Motors may have sold off Saab to Spyker for $74 million and a 50 gallon bucket of Swedish meatballs, but it appears the "Born From Jets" automaker isn't saying goodbye to Michigan altogether. The Detroit News is reporting that Saab has chosen small but trendy Royal Oak, MI a

Report: Saab dealers stumping up $24M in unsolicited funds to make Spyker deal a reality

Spyker's deal to purchase General Motors' ailing Saab division out of the throes of insolvency appears to be moving along quite nicely. Production of vehicles is underway, a plan is in place to launch critical new models and the European Union has Jeremy Korzeniewski

Spyker releases more details on Saab purchase, promises new 9-3 for 2012

The long saga of Saab has generated a lot of headlines for us in the past few months. The latest was word that the deal between General Motors and Spyker was initially rejected because of the fact that one of Spyker's investo

Autoblog Podcast #163 - Paukert Re-Redux

Click above for the Autoblog Podcast in iTunes, RSS or listen now!

BREAKING: GM reaches agreement to sell Saab to Spyker!

What a long, strange trip it's been. Every thriller must have an endgame, although whether the guy gets the girl in the end or just plain "gets it" is often in doubt right until the final frame. This afternoon, after a most improbable and tortured saga, General Motors has finally agreed to sell Saab to Spyker Cars.

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