Saab may still require aid from Swedish government

Article by Christian Andrei, on August 27, 2010

According to a Swedish minister Saab may still require loan guarantees from the Swedish government in spite of its impending takeover by Koenigsegg.

This is because the government is uncertain at this point in just how much cash Koenigsegg is ready to inject into the struggling carmaker. Saab may also need crucial loans from the European Investment Bank (EIB) to guarantee its future, which the government should ensure.

GM, the parent company of Saab, struck a deal with niche supercar manufacturer Koenigsegg to sell Saab. However, the key element, that is, the amount of money Koenigsegg is willing to put into Saab, has not been disclosed.

Another key point is the ability of Koenigsegg to lead Saab. If it will come out that they will require government loan guarantees in order to avail of EIB credit, then they should approach the government.

Although this might not really be needed, but the government's involvement cannot simply be assumed. However, a spokesperson for the Swedish government said that it would really be better if Koenigsegg invests enough money into Saab to pass up government involvement.

GM has said though that the deal with Koenigsegg, which is supported by US and Norwegian investors, is going to possibly include EIB assistance amounting to 363 million Pounds ($600 million).

Topics: saab, sweden

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Nikola Motor’s hydrogen-powered semi-trailer truck is highly appealing with its many advancements but don’t expect it to arrive in the near future. In November 2016, Toyota announced the possibility of...
by - December 5, 2016
Usually, it is up to resourceful spy photographers to take clear pictures of vehicle prototypes, especially those that have aroused a lot of interest. The same is true for Project...
by - December 5, 2016
The much-anticipated debut of the new Wrangler will surely happen. As it approaches, we’ve gathered all the latest information released so far. Of course, most are expecting that the next...
by - December 5, 2016
Nissan has announced the pricing for its new commercial pickup line. So for those who have been waiting for Nissan’s official price list (plus a little more info), read on… ...
by - December 5, 2016
Sorry folks, the AMG-fied Mercedes-Benz X-Class will remain in the fantasy world. According to some news, the AMG big boss has finally spoken up about why an AMG X-Class is...
by - December 5, 2016
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries