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]

If you liked the article, share on:

Topics: gm, saab, technology

Comments

Recommended

November 17 is considered a very special day for Tesla, as this is the day that they revealed the highly anticipated Tesla Semi. But Elon Musk did not think the...
by - November 17, 2017
More details have emerged about the new sixth generation of the BMW M3 just as the German premium practically announced the end of the current-gen 3 Series with the unveiling...
by - November 17, 2017
All is set for Volkswagen’s plans to enter the electric vehicle game, as prompted by the so-called Dieselgate scandal. In fact, the German carmaker has already made a commitment to...
by - November 17, 2017
As BMW has already revealed, the next generation of the BMW M5 (F90) is a four-wheel drive high-performance sedan with overwhelming power output and torque at its disposal. However, it...
by - November 17, 2017
McLaren unveiled a one-off Gold - on - Black 720S at the 2017 Dubai Motor Show which will be on display throughout the entire stretch of this week’s event. The...
by - November 16, 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