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.

Thursday, November 10, 2011

A fight to the bitter end

"We will fight to the bitter end," Victor Muller told TTELA last night. Muller aims at reaching a new deal and convince General Motors to say yes before the end if this week. On Monday GM made it clear that with the current deal to sell Saab from Swedish Automobile to Chinese companies Youngman and PangDa, GM would end all technology license agreements with Saab.

But talks to find a solution are ongoing, or it is a "work in progress" as Victor Muller puts it. And from yesterday we also know that Youngman has not given up on Saab and still wants to buy the company.

"Of course we do. If you are afraid you can not succeed in the business world. Difficulties will always exist You just have to find solutions, and not just give up," Rachel Pang from Youngman told TTELA.

Today Dagens Industri reports that both Youngman and PangDa is ready to go to Detriot to negotiate with Generel Motors. But reports in international media from last week that PangDa is having financial troubles of their own are now being picked up in Sweden and is thought to be a just as big hurdle to finalize the sale of Saab as GM's refusal to sell technology to a Chinese owned Saab.

This Saab sage ain't over yet. Stay tuned during the day!