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.

Monday, November 14, 2011

Negotiations to go beyond November 15

When Swedish Automobile sign a memorandum of understanding (MOU) with Chinese companies Youngman and Pang Da for the sale of Saab Automobile, the sales deal was made valid until November 15. Since then General Motors (GM) has said that should Saab be sold to the Chinese, GM will revoke all technology agreements with Saab. Something that would make it impossible for Saab to keep manufacturing the Saab 9-5 and Saab 9-3. And Swedish Automobile, Saab and the Chinese had to negotiations.

Earlier this afternoon Saab said that the date November 15 is unimportant as long as the parties are talking:

"The date for the MOU feels very undramatic. As long as all parties are negotiating, they can extend the validation of the MOU," said Gunilla Gustavs from Saab to Swedish news agency TT.

Later Eric Geers, Executive Director Communications at Saab, confirmed to Svenska Dagbladet that the negotiations will continue beyond November 15.

"Saab will continue talking with the Chinese also after November 15, that's all I can say. I do not know if we will release an official statement, but that is the status," Geers told SvD.

He also said that it is very important that the Chinese also can reach an agreement with GM.