Reuters has published one of those confusing reports where un-quotable sources say one thing and quotable sources from the same operation contradict them completely.
Take this as you will:
General Motors’ Saab brand has received interest from several potential bidders including China’s Geely Automobile and Dongfeng Motor Group, sources with direct knowledge of the sales process said on Tuesday.
GM has not yet begun an official auction for the Swedish brand but expects to have preliminary financials for Saab ready in a few weeks, according to the people who were not authorized to discuss the sale process.
A senior Geely executive told Reuters in Shanghai that his company had not held any talks on the Saab brand and was not interested in pursuing foreign brands.
A spokesman from Dongfeng Motor, China’s third-largest automaker, said the company had not held internal discussions about a possible bid for Saab brand, adding he was unaware of any interest by his company in bidding for the brand.
But the sources close to the sale process said several parties have expressed an interest in the brand, and GM would like to pursue a quick first round of bids first soon after it has sent out the financial material to interested parties……
……Private equity firms and representatives of retired Swedish workers have also expressed interest in Saab, the person said.
GM has received interest from about five potential bidders so far, the second person said.
He said, she said, they said. My emphasis added, by the way.
I’m sure there’s some Chinese bidders in there somewhere. I just hope they don’t win the day. Personally, it wouldn’t be a good outcome as far as I’m concerned.
I’m sure some more bits and pieces will leak out eventually.
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Dongfeng currently have joint venture operations with Peugeot/Citroen, Honda, Hyundai/Kia, and Nissan.
It looks like Geely don’t have the tradiitonal JV manufacturing that’s common in China. From what I can tell, they make their own cars, which are not-so-loosely based on the designs of others.
Geely have recently been in the press denying interest in Volvo, too.
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