IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Wednesday, April 27, 2011

Saab's cash crunch solution made in China before weekend?

It's getting more and more probable that a solution to Saab cash crunch may be in China. Already in October of last year, reports came in telling us that Saab was in contact with automaker in Asia about selling technology. This became even more relevant three weeks ago when we became aware that Saab was running into financial troubles. The Chinese connection was in the beginning believed to be funding for the long-term, but the recent crisis must have speed up the process or changed the perspective somewhat. Now the Chinese connection is even mentioned as a solution to the short-term financial problems.

Earlier today we could read that key people was telling the press that a solution could be near. Now even Swedish Radio claims that a Chinese solution to the problems can be imminent:

So far there has not been any statement on the future of Saab Automobile. But everything point to that the company is seeking financing from Chinese automakers. That's according to both Saab and financier Vladimir Antonov's spokesman in Sweden, Lars Carlström, who says that a solution to Saab's problems can come during the week.
- My understanding is that Saab will tell us within the next few days. I do not think you will be disappointed in the results that will be communicated, says Lars Carlström.

Vladimir Antonov also seems certain that a solution is near. Here's what he says on Twitter:
To SAABs very valuable suppliers! Please don't fire your people for a while! Hold on a bit PLEASE!!!