According to www.ttela.se and www.di.se tuesday morning the new twist is somewhat like this.
A new offer is presented to GM by Youngman and PangDa. In return they get the licenses for 9-3, NG 9-5 plus the possibility to buy 9-4x.
Guy Lofalk and the Swedish Government ready for heading to Detroit without Victor Muller.
The sources say that GM is not in a hurry to finalize anything. Same sources say that “The ball is now with GM. We get a positive answer and negotiations picks up, or a no and in that case Saab goes belly-up”
Youngman has sent fundings to Saab to cover for this months salaries.
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Guess more will unfold as the daylight slowly enlightens Sweden today!
Fingers crossed! Lets hope they work something reasonable out.
Links ?
http://di.se/Artiklar/2011/11/22/251623/GM-har-inte-brattom/
Somewhat strange news concerning GM’s “We won’t negotiate with the Chinese”-comment, but still good news. I doubt that GM would care about whether a representative from the Swedish government sits in the room or not, though…
Guy Lofalk may count as representative for Saab so it should be ok for GM.
I’m not entirely sure that I am understanding this correctly. So Youngman and Pang Da are now negotiating to buy Saab without the GM tech? (Licences and 9-4X)?
No – I was actually reading it the same way, but have in the meantime checked the sources (ttlea+di) and this is not the case. The Chinese are – on the contrary – giving a bid to GM for the rights. But GM has no hurry …
Ah, I see. GM is in no hurry? When have they ever been in a hurry? GM is a big old dinosaur, and dinosaurs aren’t able to move very fast 😛
The funny thing is, they definitely seemed to be in a hurry to reject the 100% takeover by YMPD…
🙁
+1
Of course, I would have done the same thing, never accept the first offer…
The original article says that YMPD has made an offer to buy the rights for the current models and to be able to buy the 9-4X from GMs factory in Mexico.
This news post was probably put together in a rush 😉
+1
Please, Trued…do a 1 minute re-read to correct cryptic phrases like I return the licenses plus 9-4x.
In this case it’s the gist of the message and it had me guess multiple times what you actually meant…(no offense).
Rush? You bet the 9-5 is in the workshop and I had to catch the “Mining-Train” (Subway to get to work).
I am speachless ! God please help SAAB, as it turn out that Sweden already planed for the oposite.
This is good news!! Go YMPD!!
Are you for real? If this fails with ympd SAAB is gone when should you and SU crew realize that? This is the last Chance!
Are you entirely sure that YMPD 100% is the right deal for SAAB?
If you would have followed the developments you would have realised that they failed to deliver what they have commited for , and instead they played the well known dirty game of “brinksmanship” (thanks Chris :)) to get hold of 100% of SAAB.
What makes you think they will not do that again pretty soon, and that they will commit to their plans this time?
Well Chinese produce everything in millions units provided they have the technology and the know how.
GM sells 2 millions there not because their cars are extremely performant, but because they are producing them in China. SAAB’s plan for China sells was on purpose highly underestimated if the cars are to be produced in China and having Pang Da as dealer network.
GM was not born yesterday unfortunately and they have a pretty good insight in the Chinese market by now.
GM has their own issues with European operations, mainly Opel. Saab hardly registers on their balance sheet. There’s a few automotive news articles about this that we’ll post here and reflect on later today.
GM have not the first time to lose millions of dollars. I do not think that any loss of “negligible” 350 million may have a strong impact on them…
This isn’t new news, Jorgen is just presenting it as such. The offer was submitted Friday. We covered it this weekend. DI and TTela are just getting to reporting the news. DI’s anonymous source contradicts what our own are saying with regard to GM agreeing upon 100% ownership. We’ll see what happens.
If your source is vm as many times before I am not suprised that he says that! He is side stepped.
Not VM. Not NSC either. GM sources. Just for the record, VM has given us very, very little the past few months, if anything.
We believe in the Saab!!!
From Russia.
The 9-4X is the best Saab I’ve ever driven.
Chinese IP? Seriously? Chopsticks and Ming vases do not a car make.
I think we should start writing e-mails to the White House again and ask the US as shareholder of GM to speed things up with Saab. At least I sent some mails back in 2009 / 2010. Maybe it helps.
Did you follow US politics lately. Did you notice that the deficit committee has pretty much failed, i.e. we’re back at the pre-July situation, i.e. the whole economy will just fall apart?
Do you really think that the US government (or the average US tax payer) really cares about what happens to foreign car maker that has for all purposes has been written off the GM books 2 years ago already?
Really, you couldn’t write this and get anyone to believe this sorry saga.
Only positive thing for me is if the chinease are paying this months wages they must be both serious and confident of brokering a deal or am I clutching at straws ?
It is obvious that an interesting and smart game is played by GM on this deal.
And GM really plays hard and smart this time!
If the deal comes true then Saab will again fall under GM’s umbrella but in China this time! GM sees the Saab deal as a new opportunity to expand its presence in China. And everybody else knows that without GM no deal can be effected! Smart GM!