General Motors trading technology with Saab for 5 years

Article by Christian A., on August 26, 2010

As part of its viability plan, General Motors might be unloading Saab although it may still want to share vehicle platforms in the span of five more years.

Furthermore, the General will be totally cutting its financial backing for the Swedish carmaker by the close of 2009. The reason for this odd arrangement is because both are coming out with models that depend on each other's technology. 

In this latest deal, Saab is allowed to utilize the global platforms of GM, which is essential for the 9-4x's success, while on the other hand Saab will provide GM with the use of its developments in the area of safety, chassis and powerplants.

Meanwhile, Saab is intensifying efforts to locate a buyer since its bankruptcy declaration the previous month.

The Swedish government will not purchase the carmaker and will not offer any aid until a buyer is found for the financially trouble car manufacturer. According to Saab, there were five potential bidders although almost nothing has been added to that announcement since.

GM promised to provide $400 million in support of Saab, but the latter is seeking external investors. The funding is essential for the marketing and launching of its three new models in the succeeding 18 months.

The new models include the 9-3x which will be showcased in the upcoming New York Auto Show next month and the brand new 9-5 sedan and the 9-4x crossover, which will also launch quickly after the 9-3x. [via autonews]

Topics: gm, saab, technology

If you liked the article, share on:

Comments

Recommended

The 2018 Cadillac CTS-V sedan will be getting a new paint job that will give it a unique icy feel. Dubbed the Glacier Metallic Edition, this special model was built...
by - August 23, 2017
During the North American International Auto Show at Detroit in 2015, Hyundai introduced a concept pickup truck they named the Santa Cruz. This model took home the Concept Truck of...
by - August 23, 2017
Porsche introduces the technologically advanced wheels with braided carbon fiber. These will be initially available on the 911 Turbo S Exclusive Series. Being the first car manufacturer to offer such...
by - August 23, 2017
All eyes were turned to the fuchsia pink bespoke McLaren 720S MSO at the 2017 Pebble Beach Concours d’Elegance Sunday. Surely, we can understand why. The one-off supercar, which was...
by - August 23, 2017
Hyundai Motor Group – including both Hyundai Motor and Kia Motors – has disclosed a wide-ranging plan to introduce 31 environment-friendly models in a new development roadmap that aims to...
by - August 22, 2017
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