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by Swade

Carwinism on the Saab-Koenigsegg deal

June 22, 2009 in Archive

I hadn’t heard of a site called Carwinism prior to yesterday, when a guy named Claes in Sweden sent me a link to a recent article there.
I could have done a Googletrans and posted it straight here, but I got the feeling that this article was a little more important than that. So, I pushed the boundaries a little and asked Claes (who’d I’d not met before) if a proper English translation could be made available.
Thankfully, I received that now along with the permission to post it here to share with you non-Swedes (thanks Jonas!). However, I’ve also just discovered that there is a sister site, in English, called Carwinism.com so the posting of the full translation here isn’t needed.
Carwinism.se is a site dedicated to celebrating the car in all aspects, and any brand. 2009 is both the worst year ever for the car, and also, the 200th anniversary of Darwin, hence the pun in the website’s title.
This article was written by a social anthropoligist named Olle Hagman, from Gothenburg. In the article, he goes a long way to explain the good feelings many of us have with regard to Saab’s sale to Koenigsegg.

In the debate concerning Koenigsegg’s financial ability to develop SAAB, the dream perspective has been lost on the way. For, in my opinion, it does hold great value that the manufacturer of the world’s fastest car, designed by a Swedish entrepreneur who since childhood has dreamed of making cars, over night has managed to turn around the perception of SAAB. From being a supplier of American nightmares to Swedish dreams.

The article is entitled The Car’s Journey from Machine to Organism and I guess even just the title is a good explanation for several things:

  • Why people develop ‘relationships’ with their cars
  • Why blogs like SU exist in the first place
  • Why companies that build automotive appliances are not loved.

This article doesn’t deal with the k-Saab transaction in much more depth other than what I’ve posted above.
Rather, it traces the evolution of the automobile from family hauler, to driver’s car, to a look-at-me symbol of indivdual success. Various ages have meant various things for the automobile, they way it’s designed and the way it’s presented to people. The one thing that carries through all of this is the development of the relationship between people and the cars they drive.
For many, cars DO mean more than just adequate transportation. Such is the case with Saab, and it’s in this light that Hagman writes his article.
It’s highly recommended reading. Again, my thanks to Claes and Jonas for the tip.

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Saab 9-5 update – how you like me now?

June 21, 2009 in Archive

These photos popped up on my Flickr feed and when I saw them I was filled with a wave of premature nostalgia and admiration for the tough-little-re-design-that-could.
I can remember when we got the first spyshots of the re-designed Saab 9-5. It’s fair to say that it didn’t receive a warm reception and was quickly nicknamed the Dame Edna model, for obvious reasons. Whilst that name started as an un-complimentary descriptor, it has since taked on a more endearing nature (much like Dame Edna her/himself).
Saab9-5DameEdna1.jpg
Saab9-5DameEdna2.jpg
Saab9-5DameEdna3.jpg
Time has passed and my own opinion on the re-design has changed. There are only a few of these 9-5s here in Hobart, but I always take a second look and smile when I see it.
I think I owe Simon Padian and the Saab design crew an apology when it comes to the 9-5. I know that somewhere along the line I was probably pretty harsh about it.
Truth is, though, like many Saab designs, it looks a little odd at first and then works its way under your skin. It’s certainly done so with me.
I like some colors better than others, but there’s no doubt that in my own mind, this Dame Edna 9-5 will be somewhat of a forgotten classic for Saab.

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Saab could be a lifeline…..for Koenigsegg?

June 21, 2009 in Archive

You may or may not know it, but Saab were actually pretty determined that they were going to go it alone rather than seek a buyer, such was their own confidence in the business plan they’d put together. The search for a buyer began when the Swedish government refused to support Saab with loan guarantees unless there was a new owner on the scene.

There’s little doubt that a lot of things will have to go right for the Saab-Koenigsegg deal to work out. There’s a lot of potential there, that’s for sure, but it ain’t going to be easy.

Koenigsegg’s purchase of Saab gives Saab a lifeline of sorts. It gives them time to release new models. It gives them massive marketing impetus. It gives them a shorter distance from the decision makers to the difference makers.

But does it Koenigsegg something as well?

Ny Teknik explored this idea in an article last week. ctm was kind enough to provide a translation, as follows:

——

Koenigsegg’s bid on Saab is an attempt to save Koenigsegg – not Saab. With the help of Saab’s development department and loans from the state, Koenigsegg can realize their plans for electric or hybrid-powered sports cars. Automotive journalist Norbert Andersson provides this analysis.

Koenigsegg is just the shiny facade: a small manufacturer who sells one car per month and has never made a profit. The money will instead come from Råde Eker and company Projectiondesign, a manufacturer of video projectors. It is also Eker’s money that has maintained Koenigsegg.

This small manufacturer of supersportscars for ten million each has a tough situation on the market. In order to broaden the market, Koenigsegg wants to develop a cheaper car designed by Bård Eker. What’s missing is money. And it is here that Saab engineers enters into the picture. In addition, Saab may receive state aid to develop electric or hybrid technologies, a technology that Koenigsegg want to build into their cars. A more “down to earth” sportscar from Koenigsegg could also be marketed through Saab dealers.

But the question is what Saab gains? Bård Eker has no experience of running an automotive company. He has very little capital. The 300 million Kronor he wants to get by selling shares in Projectiondesign is enough to perhaps run Saab for some weeks. Saab’s loss last year were 3 billion Kronor and the figure this year will be higher.

No until 2011 can Saab be profitable, according to the company’s CEO Jan-Åke Jonsson. In order to survive in the meantime, Saab want loans which the Swedish state will guarantee. But this will require strong guarantees from the owners so that the state will not have to take over Saab if the business plan fails.

Given that the Saab’s business plans have always failed, there is little or no trust that it will survive this time.

Through negotiations, GM probably wants to force other interested parties to put in a serious bid. Because if Saab goes bankrupt GM loses all the 10 billion Kronor that Saab owes them. In addition, they will miss out on the revenues on license fees for the GM technologies found in Saab cars. Even with Saab’s relatively small production, it amounts to hundreds of million Kronor per year. In addition to this, Saab in the future has to buy components from the GM and let GM’s Mexican plant in Ramos Arizpe produce the 9-4X.

Is there any benefits for Saab to have Koenigsegg as owner? Yes, in marketing, where they can be associated with expensive sports cars.

But what is that worth if Saab gets an owners without financial resources and without cooperation with a large manufacturer that can help the Swedes with development, components, and purchases?

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Sunday Snippets: TV, Flickr and a Canadian quirkfest.

June 21, 2009 in Archive

I’ll bookend this post with images from Flickr.
First up, it’s a different kind of Saab, a 340 passenger aircraft pictured over Tucson. Not a real image of course, but a screencap from a flight simulator. I know there’s a few flight-sim fans here, so enjoy….
Saab340Tucson.jpg
——
As covered in a previous post, it’s Midsommar in Sweden this weekend, which means the Swedes gather in number to eat, drink and be merry.
Here’s the carpark at one such gathering, with thank to Jorgen.
midsommarcarpark.jpg
I think next year I might see how many pictures we can get of Saabs with maypoles.
——
Canada has a bit of a wacky-weed problem in various areas, most notably the offices of internet publishers Carguideweb.

When Saab went to Dutch supercar manufacturer Koenigsegg, surprise was definitely the emotion of the day.

I’m sure the most surprised people were Koenigsegg themselves, learning that they’re Dutch rather than Swedish.
The wacky-weed has also led to an obsession with the (most hated) word ‘quirky’ and its derivatives:

With a production run of just a few cars a year, the quirky supercar maker seemed ill-equipped for the acquisition of a large-volume worldwide sedan manufacturer, but once the dust had settled, it seemed to make more sense.
Once known as a quirky manufacturer themselves, Saab has been in need of a serious quirk infusion since their complete pacification at the hands of General Motors.

…and this one, from Canada.com:

Just when we were all getting a trifle bored of hearing about the various financial woes of GM and Chrysler on a daily basis, here comes the best news I’ve heard all Financial Crisis. Nutbar supercar-maker Koenigsegg has purchased niche-player Saab, and plans to move manufacturing back to Sweden.
No more horrible GM badge-engineered nonsense. No ridiculous Chevy Trailblazer with a key between the seats. Nothing but sweet, sweet Swedish quirkiness.
Koenigsegg, for those of you who don’t know, currently builds Swedish meatballs like the 800 horsepower CCX. Saab, for those of you who are already too painfully aware, builds blandness like the 9-7X SUV: a vehicle with all the personality of an Ikea hotdog.
Saab executives were so excited about the change of ownership, when asked for comment, all they could say was, “Bork bork bork!”

Obviously I jest about the wacky-weed. These are pretty good quick reports, even if they do manage to quirk it up more than would be to my liking.
——
Businessweek have a great background story on Koenigsegg and their acquisition of Saab.
——
EduSaab was kind enough to shoot through a link to Euronews, where there’s an 8-minute video news report on Saab and the Swedish motoring situation.
Time well spent!
——
And finally, the rear bookend from Flickr.
Some great Saabs and other classic cars in action here.
Saab96SportFlickr.jpg

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Back in time – first thoughts on the Saab 9-4x

June 20, 2009 in Archive

This post was originally published at Trollhattan Saab back in January 2008. I was in Detroit at the time, had spent all day at the North American International Auto Show looking over this vehicle and gathering my thoughts. I put this together, hit ‘publish’ and ran out of the hotel to go get a big steak with Greg Abbott :-)
The Saab 9-4x is in my thoughts more and more these days. Saab have a public relations coup on the cards with the Koenigsegg deal. They have the 2010 Saab 9-5 to pacify many of the purists for a while and there’ll be the 9-4x – a first real Saab in the crossover segment.
I’m pretty sure this vehicle is essentially ready to go. I’m sure the internal deal was that Caddy would get the SRX first and now everything’s held up further with GM’s and Saab’s respective situations.
Anyway, for those who might be a little unfamiliar with the Saab 9-4x, here’s a look at the concept vehicle on which it will be based. This is very close to the real thing in design terms, though the materials will be more garden variety and it won’t have all the tricks this car has.
——
You probably know already, but let me tell you a little about how Auto Shows work.
press pack
You have a huge number of huge displays and a huge press pack moves around from display to display. The company executives come out and make their presentations, which typically revolve around the most important thing they’re doing at that time.
There isn’t a bigger presentation at the Detroit Auto Show than the GM presentation. It was climbing-room-only. And Saab was right in the middle of it.
GM used their address to announce a major partnership with Coskata, an ethanol group working on a new cellulosic production method that will significantly reduce the cost and physical resources consumed in the production of ethanol. You can read more about that here.
To accompany this announcement, GM also revealed two ethanol-fuelled vehicles – the Hummer Hx concept and the Saab 9-4x BioPower concept. It didn’t quite sink in at the time, but to have GM’s primary presentation of the show, with Rick Wagoner, Mark LaNeve and Carl-Peter Forster addressing the crowd and having Saab right at the center of it really put a spotlight on the 9-4x – and you could tell it worked.
This is the first view we had of the Saab 9-4x:
Saab 9-4x
As I mentioned earlier, the press pack typically moved from stand to stand with the presentations. Today, there was one particular thing that worked to Saab’s advantage – lunch. I joked about it earlier, but the lunch break meant that people hung around, they looked at the 9-4x and in great numbers.
I can hear you – “Don’t bore us, get to the chorus!”
So let’s take a look at it.

Read the rest of this entry →

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JL Racing want you to watch them race

June 20, 2009 in Archive

UPDATE
There are no longer any passes available for this event.
——
JL Racing are offering you some free access to an upcoming race meeting at Calabogie Motorsports Park in Ottawa.
There’s been a few other pressing matters going on in the last few months, so JL Racing fell off my radar a little but I love the idea of Saabs in motorsport and love to see well organised teams like JL Racing putting Saabs out there to be seen.
Here’s the invitation:
——
Mark your calendar!
July 24th to 26th 2009
JL Racing and Turpin Saab are pleased to offer you complimentary passes for customers who would like to come out for an exciting day at the races, Saab style! Come and see what your Saab is truly capable of and cheer on the Saab sponsored racing team, JL Racing (www.jlracing.net).
JL-RacingTurpin.jpg
This Invitation Includes:

  • Complimentary passes sponsored by JL Racing and Turpin Saab
  • Entry for Friday practice plus Saturday and Sunday race action
  • A chance to meet the JL Racing team in the paddocks
  • Free Parking
  • Children 12 and under are admitted free of charge

The Motorsport Club of Ottawa (www.mco.org ) announced a fully packed car race weekend. This year’s third-annual Ted Powell Memorial Race Weekend, will be held July 24 to 26, 2009, at the new, world-class Calabogie Motorsports Park.
Ted Powell was an Ottawa-area race legend whose many achievements resulted in the Motorsport Club of Ottawa naming its Lifetime Achievement Award after him. A Canadian national road racing champion in the late 1960s and early ’70s in the “Under 2-Liter” class, he rubbed fenders with some of the true legends, like Peter Revson and Mark Donohue in the popular North American Trans-Am series.
This Ted Powell race weekend attracts well-known racers such as Major-General Lewis MacKenzie, commander of the UN forces in Bosnia, who races a Formula Ford, and the full semi-professional field of the Castrol Canadian Touring Car Championship (www.touringcar.ca). These are race-prepared sedans that the public can identify with, such as Saab’s, BMW’s, Audi’s, Subaru’s, Chevrolet’s and Honda’s. Racing takes place all day long from 9:00 a.m. to 5:00 p.m.
Calabogie Motorsports Park is the first new world-class motorsport race track built in Canada in more than 25 years. It opened in September of 2006, and this year will be its third full season of operation. The Calabogie track is longer than Mosport, (near Toronto), or Mont-Tremblant, (near St-Jovite, north of Montreal) . Located about 40 minutes from Turpin Saab, and a little over two hours from Montreal, “Calabogie” is 5 km long, spectacular and very challenging. It has lots of opportunities for passing, making for a great race experience.
Spectator viewing takes place from along a high berm that permits unimpeded viewing of more than five turns, which is more than at many tracks. To get to Calabogie Motorsports Park from Turpin Saab, take Hwy 417 to Arnprior. Seven km west of Arnprior, turn left onto Calabogie Road (Hwy 508). As you enter Calabogie, turn left on Hwy 511. Go four km and turn left onto Wilson Farm Road. We will have maps ready when you pick up your passes.
RSVP before Monday, July 13th by contacting Sue Sorenson from the Turpin Saab team during regular business hours at (613) 591-0889 or via email ssi.receptionist@turpin.ca

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Saab 9-4x spotted in Belgium – again

June 20, 2009 in Archive

The good news just keeps on getting gooder!
I know there’s a few people who are cold on the Saab 9-4x, which is fine. I was a little guarded about it when I first saw it in Detroit last year but the interior alone gave me cause to be positive and as time has gone on, I’ve got more and more partial to the exterior, too.
Now that the K-Segg deal is underway, Saab have an opportunity for added impetus in their marketing and thats going to benefit the whole brand. One of the biggest beneficiaries, I think, could be the Saab 9-4x.
The traditional Saab customer may not be an SUV or Crossover customer. Say what you will about the 9-7x, but the one thing it proved is that there are customers out there who like the idea of a bigger vehicle with a Saab badge. The 9-7x was Saab’s second-best selling vehicle in the US since they day they launched it and the 9-4x will correct all the mistakes they made when they badge engineered a Chevy into a Saab suit.
I think it’s got heaps of potential, especially in the United States and with a diesel engine option, more than you might think in Europe, too.
So I’m stoked to see it in testing once again in Belgium. There’s a couple of new photos at Autoscoops.
saab-9-4x-Belgium.jpg
The photos don’t really show us anything new, although with the 9-5 getting closer it’s interesting to see the rear of this car as I think the 9-5 might be similar. It’s just good to see it again. I like the proportions and I like the look of the whole vehicle.
When I saw it in Detroit last year I poo-poohed the idea of driving it enthusiastically but the Saab people at the motor show quickly told me to keep an open mind. It’s not going to be a thrill machine, but new crossovers are called crossovers because they’ve got a lot of car characteristics built in from the ground up.
Now that this vehicle’s getting closer, I’m really looking forward to seeing it, and more importantly – driving it, too.

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Glad Midsommar och skal!

June 19, 2009 in Archive

It’s midsommar holiday time in Sweden this weekend so there’ll be beer and schnapps, potatoes, herring and lots of grown men dancing around maypoles.
For those who are new to it, here’s a few introductory notes:

midsommar-w2001.gifMidsummer is a national holiday in Sweden and is celebrated on the weekend nearest June 24.
Swedes celebrate Midsummer with equal gusto to Americans partying on the Fourth of July. Families and friends gather and are especially fond of doing so in their summer cottages located around lakes and along the shore.
Every Swedish town, city and province celebrates Midsummer – the longest day of the year.

And of course, the good news for we Aussies is that it’s around the shortest day of the year. Geez I hate winter!!
My guess is that midsommar celebrations around Trollhattan will be particularly enthusiastic this year given the story of Saab’s survival and new ownership we’ve seen in the last week or so.
Live it up, Sweden!!!!

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Are Saab the biggest beneficiary of the Carpocalypse?

June 19, 2009 in Archive

Consider the following:

  • Opel may end up part of a US/Canadian/Russian consortium
  • Volvo may well end up in Beijing
  • Porsche are going to need a bailout by Qatar
  • Saturn lives in name only.
  • Hummer has gone to an unknown machinery firm in China.
  • Many of Chrysler’s nameplates will disappear.
  • Pontiac is flat out dead (the last sign of life, the Vibe, was snuffed out today).

….and there’s probably more that I can’t think of as I write this.
Out of all the car companies being affected by the Carpocalypse (copyright, Jalopnik), could Saab be considered the biggest beneficiary?
It was a good article at Examiner.com that prompted this question.

……if Koenigsegg injects some of its own remarkable automotive insight and engineering prowess into Saab, then I truly believe we will see one of the greatest resurgences of intelligent and progressive automobile manufacturing of the 21st century.

I agree.
Of course, the big IF there is largely dependent upon Saab’s ability to turn their sales around with new models, and the Koenigsegg Group’s ability to invest in developing all-new models, particularly a new 9-3, in the future.
Saab grew an awesome reputation from the 60′s through the early 90′s, only to lose it to a large degree in the last 15 years (despite what were still some pretty good cars).
It’s not often that a company goes through that and had a chance to genuinely return to it’s geographical and technological roots.
Saab could well be the biggest automotive winner in this current crisis.

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Sales targets, anyone?

June 19, 2009 in Archive

The following table shows European market share data for 2009, up to the end of May. If you’re looking for Saab, the place to check is down near the bottom. Just above Lexus.
maketsharetable.JPG
It’s nice to be able to say your beating out a marque like Lexus, but you’d want to be able to say you’re beating out other companies as well. Unfortunately, if there are any other companies below Lexus, they’re not named so we don’t know who they are (tho Cadillac must be one, right?)
We all know sales have been in the toilet due to a perfect storm involving the GFC and uncertainty about Saab’s future.
We also know that Saab needs new models, which are coming.
So the big question is, how high do you think Saab can be on this list in May 2010?
By then we’ll have the 9-3x in dealers yards, as well as the all-new 2010 Saab 9-5. The Saab 9-4x should be fairly close to release at this time, too, though probably not close enough.
Place your bets. I’m aiming for 1% share and a spot just above Alfa Romeo.
–
Thanks for the table, Roeland!

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Letter from a Saab dealer to The Koenigsegg Group

June 19, 2009 in Archive

I received this in my inbox a few days ago, from Darryl Carl at New Salem Saab.
I’m sure there are a number of long-standing Saab dealers all around the world who would echo these sentiments (and a few long-standing owners and enthusiasts, too).
My thanks to Darryl for sending it in. Hang in there, bud.
——
Dear Koenigsegg Group,
Now that it’s official, we here at our Saab dealership and the surrounding Saab dealers that we know just want to tell you that we are so excited about this venture and the future possibilities; it’s impossible for me to express in the English language our sincere delight.
Our dealership is the second oldest continuously owned exclusive Saab dealership in the United States. We were approved for dealership operations from Saab Motors on March 23, 1961. We can and have repaired every Saab ever imported into the States.
I have raced, crashed, sold, repaired and lived by Saab, with Saab as a part of my entire life since birth. We currently are a US top 10 in Certified Saab Sales and meet or exceed our new Sales objectives monthly.
It is imperative you know the exclusive Dealers in the United States have hung on waiting for this type of possible dream solution. We, the exclusive dealers of the States, are so committed to Saab, its engineering, safety and potential, profit and loss seems to be second over the love of the brand.
I wanted to drop a small note of thanks for returning Saab to the Swedish aura it belongs in. You truly have “possibly” purchased the largest uncut gem in the industry. Saabs potential in our opinion is endless.
So we salute you and very much look forward in assisting the resurgence of our brand, the Saab brand. We ask for you to care for us as we have cared for the brand for so long and so lovingly. We pledge to stand strong, as we have, and look bright eyed toward the future of Saab, now possibly resting back in Swedish hands, built by Swedish people and engineered by the standards we know will sustain this brand from our Swedish aviation heritage.
If there is anything my small group of dedicated, long term Saab enthusiasts can do to assist in any fashion, do not hesitate to phone or email us. We look forward to the official announcement and our first official greeting.
One of the finest days of my life, aside from the birth of my twin boys, will be signing the new dealer agreement with the new Koenigsegg Saab.
Sincerely,
Darryl F. Carl
President / Owner / Service Manager
New Salem Saab
(518-862-2795 Office 518-862-2799 Fax 518-528-4083 Cell)
www.newsalemsaab.com

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What to do with $600m? Cargine!

June 19, 2009 in Archive

A few people have made mention of Cargine in comments and I’ve been so swamped with newsy stuff (and normal life) that I hadn’t really had time to look at it until now.
The interest was sparked mainly by an article in Swedish publication Ny Teknik, which states that this technology is a prime candidate for further development with the assistance of the government-backed $600m loan that Saab will most likely receive from the EIB. This money has to be used for investment in new technologies that create efficiencies; greening things up a bit.
Cargine’s work involves the development of a pneumatic valve system, which as I understand things makes the camshaft redundant, uses no oil, reduces weight and can increases the engines efficiency. In short, you get more power from the same inputs with fewer emissions.
Christian von Koenigsegg is a Director on the board of Cargine, so there’s your first link. It doesn’t stop there, though. Cargine’s first single-cylinder demonstrator was delivered to Saab for assessment back in 2001 and Saab have been further testing the technology in some 9-5 test vehicles for a few years now.
You can read all about it at Cargine’s website. This sort of stuff, along with things like Saab’s variable compression research, is the sort of things Saab should be involved in. I can imagine that a few of the former Saab engineers from the old days would be grinning from ear to ear at this idea.
In the meantime, here’s a translation of the Ny Teknik article (thanks to Wictor and others!)
(…..and by the way, the headline isn’t accurate. It’s said that Saab will spend that $600m in EIB money over 60 or 70 different projects so Cargine will only get a portion)
——
Koenigsegg can ask the EIB loans to the air-driven valve
Scanian Cargines air operated valves can be one of the technologies such as new Koenigsegg Group invests in the purchase of Saab Automobile to go through.
New technology (Ny Teknik) can today reveal one of the major technology projects Koenigsegg probably expects to receive development loans from the European Investment Bank, EIB, is the company Cargines valve technology for combustion engines.
Cargines CEO confirms Urban Carlsson for new technologies that “technology can be interesting in this context” but also says that it is too early to make any comments because the contract is not yet ready.
Cargine has since 2003 a joint development partnership with Koenigsegg, who is also a partner in Cargine.
The common goal is to produce an engine with air-controlled valves for Koenigsegg sports car and turn it into an energy-saving green.
- It’s fun on a small Swedish bilbyggare become the first in the world with this unique technique, “said Christian von Koenigsegg in the last year in an interview with New Technology.
According to Urban Carlson, technology is soon completed:
“We do not have much left.
With the help of the controllable valves can be cold air pushed into the combustion process, which lowers emissions of nitrogen dioxide, hydrocarbons and organic carbon. (See working principle as motion graphics)
- Especially in cold starts reduced emissions dramatically, “says Urban Carlson.
If Koenigseggs purchase of Saab Automobile goes through the valve concept can then be used on the new Saab cars, Saab CEO Jan Åke Jonsson wants to launch to save Saab.
The plan includes the completion of four new models, 9-3 X, 9-5 and then in combination and 9-4 X.
Large energy-efficient cars for the premium segment seems to be Saab’s dream plan.
In order to switch to cleaner technologies Saab has applied for a loan of 4, 7 billion from the EIB. The ball to assess the Saab’s business plan and environmental projects is now in the bank.
Cargine also cooperated early with Saab in the development of valve technology. But when you needed money to move on, it became a stop.
“We got no. GM (ed note: Saab’s American owners) said no to the activity basmotorutveckling at Saab in Trollhättan, state Urban Carlson.
According to Jan Åke Jonsson, the ‘capital of the EIB go to 60-70 different projects that are focused on the environment. ”
Last Wednesday, it became also clear that Saab’s creditors agree to forgive 75 percent of the company’s debts. This after the chord determined by the District Court in Vänersborg.
Saab chords reduce by 8 billion.
The remaining debt of 2, 5 billion will be Saab able to pay out of their own cash, promised Jan Åke Jonsson.

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Some more Koenigsegg love – on video

June 18, 2009 in Archive

My thanks have to go to WooDz for sending these links through.
It hasn’t really sunk in yet, but this is going to be your average Saab 9-5 or 9-3s big brother :-)
OK, it’s not really, but kinda. I’ll take it. Maybe some “my other Saab is a Koenigsegg” stickers are in order?
What we’ve got here are a few demonstrations of just how blisteringly quick the Koenigsegg CCX actually is.
The first video is a series of drag races between a Koenigsegg CCX and a Ferrari F430 Scuderia. The acceleration is astounding and the view from the Ferrari (or from the porthole in the K-Segg) is just as thrilling.
The vids are after the jump but here’s a screenshot
CCX-Ferrari.jpg
Yes, those little white/yellow dots in the mirror are the Ferrari.
Of course, that’s straight line power, which isn’t what real world driving is about (not that these are real world cars, but you know what I mean). What if you introduce the CCX to some corners?
The first CCX attempt on Top Gear wasn’t a smashing success. Well, it was smashing, in that the car was too quick and unstable and wandered off the track and ate some tyres.
When Koenigsegg brought the car back to England with a rear spoiler fitted, the Stig flew it around the track in record-smashing time.
CCXstig.jpg
Both videos await you after the jump…..
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NOTE: if are using Internet Explorer, watching the videos here may cause your browser to crash. It’s a glitch and no-one seems to know how to fix it (other than recommending you use Firefox or get a Mac).
You should click here to watch the drag races and click here for the Top Gear video.
Others, go end enjoy.

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by Swade

Swedes: how would it feel if Geely buys Volvo?

June 18, 2009 in Archive

There are reports coming out of China today stating that Geely have signed a preliminary agreement with Ford to purchase Volvo.
From Auto Motor and Sport:

It is the English-language newspaper Shanghai Daily, which writes that Geely will buy Volvo. A delegation from Geely have visited Volvo’s headquarters in Gothenburg, and a preliminary agreement should be clear.
Shanghai Daily writes that Geely has plans to move production of the next generation XC90 to a factory in the city of Dongguan, Guangzhou Province, and refers to data from the National Business Daily.

A little more from The Local:

Terms of the deal were not disclosed, but Jia Xinguang, an analyst with the Chinese National Automotive Industry Consulting and Development Corporation reckons that Volvo would not be sold for less than $3 billion, the Shanghai Daily reports.
Ford purchased Volvo Cars in 1999 for around $6.5 billion.

For their part, Volvo are playing dumb on the whole issue:

A Volvo spokesperson told the TT news agency on Thursday that the company had no knowledge of any agreement to sell the Swedish automaker to Geely.
“Ford is in charge of the sale. We don’t know anything here,” said Volvo’s Maria Bohlin.

I know, as a Saab enthusiast, that I’m particularly pleased that they’re staying in primarily Swedish hands. I can only imagine there’s a bit of dread around right now at the thought of an even larger Swedish icon passing into Chinese hands.
So how’s the reaction over there?

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by Swade

Saab’s race against time

June 18, 2009 in News

Saab had an online game called Race Against Time a few years ago. A book as well, actually.
I bet they never thought they’d be racing against time for their own continued existence.
If I’m reading this correctly, the Gothenburg Post is reporting today that Saab may need to try and grease the rails to getting their EIB loan through the system. The dilemma appears to be as follows:

  • Saab’s current three-month reconstruction period ends August 20. I don’t think they want to apply for another one.
  • They need around $1billion to keep operating, a sum that includes the $600 million they’d get from the EIB, backed by the Swedish government.
  • The EIB possibly can’t meet and consider new loans until September – which is after Saab’s current reconstruction period ends.

This means that Saab’s new owners might be called upon to exhibit the ‘financial strength’ they’ve been talking about the last few days. Saab may need some bridging finance to get them through if they come out of reconstruction in August and need to be carried through to loan approval in September.
Saab are going to do everything they can to try and make this easy for the government and the EIB. They will provide all info and representatives from the Koenigsegg Group are going to meet with the government today, prior to getting sloshed for Midsommar.
It’s just another hurdle on the way to independence. That first new Saab under Koenigsegg’s direction is going to taste so sweet after all this trouble!
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It should be noted here that in another article, in TTELA, that both Jan-Ake Jonsson and Guy Lofalk state that Saab have enough money to get through.
The EIB money can not be used to pay existing debts, nor could it be used for normal production expenses. As I understand it, that money has to be used for investment in technologies that can improve the efficiency of the cars they design. Saab plan to use it in between 60 and 70 different projects.
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Thanks Per!

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