Saab: I aen't dead.

[Loz]

Seems my earlier doom mongerings about SAAB were a little previous, Spyker have won SAAB a reprieve but the future may not be bright just yet. :bigsmile:

http://www.reuters.com/article/idUSLDE60Q17J20100127

Please don't edit the title, I aen't dead, google it.​

 

[Richo41]

Re: Saab: I aten't dead.

"The company "absolutely" had the financing to bridge a three-year development cycle for new Saab models."

I'm pretty excited to see some of the new models Saab will be pumping out. I remember reading earlier on in the piece (and cheering), when Koenigsegg said they were going to have something to do with Saab's design team but then pulled out. And then Spyker pulled out - but eventually bought anyway.

Hey, maybe someone could help me with this, i've got a friend trying to tell me that a Chinese company has a stake in Saab, too. He's telling me that this company in question fronted a fair amount of the money to Spyker. I don't believe him as i can't find anything on the net to back this claim up, but maybe i'm wrong?

It seems pretty impossible to make two companies running at a loss to turn that around - but it's always darkest before the dawn!

 

[Loz]

Re: Saab: I aten't dead.

This is the best description of the deal I could find quickly.

http://www.ft.com/cms/s/0/91363eb2-209b-11df-9775-00144feab49a.html

 

[Richo41]

Re: Saab: I aten't dead.

Thanks!

- Victor Muller, Spyker chief executive, has vowed to restore the lost lustre of a brand whose ethos many fans feel was watered down when GM owned it. On Tuesday he promised to bring “exciting new products” to the brand’s customers: “Real Saabs, Saab Saabs.”

I love reading things like that, Saab really was a different breed of car up until 93. I'm still a little confused when reading -

"Spyker, which sells only a few dozen hand-made cars a year, entered the frame as a buyer of Saab after the failure of an earlier bid by sportscar producer Koenigsegg and supported by Chinas’ Beijing Automotive Industry Holding Co."

So does that mean Koenigsegg was supported by the Beijing Automotive Industry Holding Co. when they attempted a deal with GM or Spyker is, right now, being supported by the Chinese company?

Sorry if it seems like a stupid question, i'm just not understanding 100%.

 

[Loz]

Re: Saab: I aten't dead.

Ok, if I've read this right (I'm quite tired now, so apologies if I haven't). Spyker are not backed by the Beijing Automotive Industry Holding Co. Spykers' money comes from the following,

A 74 million cash lump sum up front.
Then GM will also receive ($326m) shares in the new company, Spyker Cars NV.
A 400 euro loan from the European Investment bank, guaranteed by the Swedish government.
undisclosed amount loaned indirectly to a company owed by Spyker from Vladimir Antonov, a Russian banking tycoon.

There's other payments but I'm not sure quite how they fit in. It's all very complicated & sounds like one huge balancing act, I hope Spyker can pull this off, other wise we might lose two brands completly.

 

[dpsubaru]

Re: Saab: I ain't dead.

Richo41: The Chinese were another party entirely but they backed away when the Koenigsegg deal looked like it would come off. Agree with Loz that this new deal looks like a very fine balancing act - any second wind to the recession or a lull in buying for a couple of years could see this backfiring.