Saab sees a murky future without GM support

Article by Christian A., on January 9, 2012

The future is murky for bankrupt Saab, according to several industry analysts. Saab’s lawyers said that there are several potential buyers and they discussed the possibility that its operations will continue in some form. However, the bankruptcy estate doesn’t anymore have the key technology that its current models are based on.

Analysts say that former owner General Motors Co. had previously licensed it but won’t likely do it again. It’s probable that very little assets would be left since the estate doesn’t even automatically include the Saab brand name.

In an interview with Reuters, Lars Holmqvist, head of the European Association of Automotive Suppliers, said that he is “99% certain” that it won’t continue as Saab. The next generation of Saab cars was supposed to use the PhoeniX platform, which uses very little GM technology. However, this project is at an early phase and would be completed after one or two years.

It would be necessary for a buyer to invest millions of dollars in the project. Last month, the court declared Saab bankrupt. Production stopped last April and since then, several rescue attempts were made but were all unsuccessful.

There had been a tinge of hope recently with Zhejiang Youngman Lotus Automobile’s interest but GM rejected the proposal and it said that it won’t allow the licensing of its technology to the China-based company. [source: Autonews]

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