Jan-Ake Jonsson, via emailed Saab release:
“With our loan application now approved by the EIB another piece of the puzzle has fallen into place. We are also in the final stages of negotiations with Sweden’s National Debt Office and we expect confirmation from the EU Commission that Sweden’s state guarantee conforms with EU rules on state aid. It is a complicated process however we remain extremely confident that our plans are on track.”
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Augie Fabela from Koenigsegg Group, via Bloomberg:
“This is one step, but it’s a milestone for us. Everybody is working for the same goal, the revival of Saab.”
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The People’s Daily claims credit 
The Swedish government said a no for the guarantee earlier, but after Saab negotiated with Beijing Automotive Industry Holdings two months ago, upon the important decision making time for EIB, the Swedish government agreed with the guarantee.
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Anna Petrie, from Saab, via TTELA:
For Saab was told expected, but nonetheless it was a sigh of relief at the factory when the news came yesterday afternoon.
- We had probably our hunches, but it’s always nice to get the message, “says Anna Petre, responsible for regulatory contacts at Saab, and emphasizes the importance of EIB decision:
- This is the first step in the process, and this decision was a prerequisite for the other steps may be encountered, “she says.
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Annette Hellgren and Paul Akerlund, Union Reps at Saab, via TTELA:
- It’s very gratifying and reassuring to have come one step closer. This was a very important piece, “says Annette Hellgren……
- This may well help to create a more positive image, hope Paul Akerlund, IF Metall Club President.
Joran Hagglund, via TTELA:
Joran Hagglund, State Secretary at the Ministry of Industry, nor was he surprised by the announcement from the Bank.
- That was not entirely unexpected. Saab’s time for the sake of it was an extremely important step. Without loans would of course have been completely driven, “he said.
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And finally, a Googletrans of an article with Christian Von Koenigsegg.
From TTELA:
Koenigsegg hope for completion in November
Gothenburg CEO for Koenigsegg Group, Christian von Koenigsegg, was working at Saab’s office in Gothenburg where he was told about the EIB loan.
- It is an important milestone we have passed today, but many important milestones remain, and says he is well aware that the money not yet secured.
The money needs to fall into Saab’s account before the year end according to Koenigsegg.
- Timing is critical. There should be no more delays,” he says.
In addition to the news from the Debt Office and ultimately the government on state guarantees and the approval of the commission must Koenigsegg Group have clear agreement with the Chinese Beijing Auto, BAIC.
Negotiations with the former owner GM of Rights regarded as the most formal.
- We have found a way to break down. It is well emerged because we have negotiated a long time,” said Christian von Koenigsegg.
The new business plan will Saab be profitable at 100 000 cars sold. In addition, the company intends to cooperate with many different partners in the industry to be cost effective.
- We have a sober view of where Saab is and how it should move forward,” said Christian von Koenigsegg to explain that the bank believes in the business plan.
To cope with that drive Saab to the company in 2012 is expected to be profitable on its own merits requires about 11 billion according to Koenigsegg. BAIC will contribute around three billion of the company becomes a minority owner of the Koenigsegg Group. But Beijing Auto’s interest based on that Saab may loan.
- All parties need to have everyone on board. I see before me that all processes will be completed on the same day, or almost. Probably in early November,” said Christian von Koenigsegg.
He does not want to go into the details of how the negotiations with BAIC go or if the Chinese company will be taking over the tools of the old 9-5. BAIC is interested in Saab’s technology.
An additional sponsor is not seeking Koenigsegg Group, owned by companies controlled by American businessman Augie K Fabel, Norwegian businessman Bard Eker and Christian von Koenigsegg.
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{ 18 comments }
Absolut SAGA
We are going to look back on this in three years time once the new 9-3 comes out and see this as a MAJOR turning point.
The real battle for SAAB’s survival has only just begun.
Nevertheless, congratulations to everyone at SAAB!
Don’t fail us, please!
Tomorrow I think I’ll celebrate by driving my 9-5 Aero around in “Sport” mode.
Question: Future Saabs should come with…?
a) EIB mode (with Maud mode for economy driving)
b) Marzipan mode
c) Woohoo! mode
LOL, they already have “Reduced Performance” mode which I have encountered twice on my Combi. Low fuel + Aggresive G-forces on a freeway entrance loop = Fuel Starvation.
Good news indeed and I’m fairly confident that the government will extend the loan guarantees.
But as Ragusan said, the real hard work lies ahead. Good luck!
But its a helluva lot of fun, isnt it Turbin? *woo-hoo*
“Woo-hoo!” mode while doing it turned to “Oh crap” mode when I found I couldn’t do anymore than 80km/h once on the 100+ freeway. Once I pulled over and restarted all was reset back to “Phew” mode.
The more steps in this process are made the more Saab can concentrate on their cars. And that’s the most important thing to make the whole thing succeed.
Congrats to Saab and K-Group.
…the beginning of new Saab, the future is limitless!!!
(set aside for small parts of reality…)
I truly believe this can work, and work well…
Fingers crossed!
Congratulations!
By the way, the date matches perfectly with the first birthday of my yellow convertible
So for me, it will be easy to keep in mind.
One big question now is if Saab can hang on untill all deals are signed. According to http://www.di.se Saab got $ 150 million in loan from GM in February. After the first three months, almost one third of the loan was spent. If they burn through the rest of the loan at the same rate, it will be all gone by the middle of November. But according to the article in DI, Saab has cut the expenses and can hang on a little longer. But we don’t know how long. I just hope Saab is owned by Koenigsegg Group before the money runs out.
As you say the money comes to an end, and I think it has come quite handy to SAAB having to stop production to install the new tooling of the NG9-5 and the 9-3 cab.
And sentences von CvK like
do also denote that the money is comming to an end.
So, yes they have to hurry up to get things done, IMHO.
So, it is silly of me to trade in my 99 9-3 for a 2009 sportcombi at this time:( Should I wait, or refurbish the 99?
Don’t understand your question, but if you want a MY’09 9-3 SC, do it.
The pipeline is promising. This is good news.
Well maybe with the closeness of the process coming to a head. The Koenigsegg group can get a bridge loan for Saab from BAIC if necessary to keep things afloat. Just an idea
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