Hawtai dismiss claims over exaggerated production figures

Yesterday it was reported in the press that Sweden's Ambassador to China in a report claimed that Hawtai Motor's vehicle production figures from 2010 were exaggerated and that many top executives in the company had been replaced the last years. He also wrote that the company had just last year started to sell their own branded cars. Now Hawtai dismiss all these allegations. According to AFP, Gao Hongjun, Hawtai's head of public relations and communications, says the following about the sales figures:

- We haven't received any complaints through official channels.

He told AFP that it's impossible to exaggerate production figures as they were made public by official auto industry groups.

On managers leaving the company he said that top executives had not left the company, but had transfered to other positions in newly established subsidiaries.

- They are still with the company. You can walk in at any time and see them.

He also claimed that Hawtai had started offering SUVs under its own brand in 2004. And continued by saying that media was right to be sceptical:

- The media has the right and obligation to be sceptical. We will release to them the information that we should publicise when it is necessary via press conferences or other means.

Saab to embark on world PR blitz

Automotive News reports that once all formalities are sorted out, Saab with Victor Muller in the lead, together with new part owner Hawtai and Vladimir Antonov hopefully joining the tour when he becomes part owner, will embark on a world public relations blitz.

To Automotive News spokesperson Michele Tinson of Saab Cars North America said the following:

- If and when Antonov gets involved, we want to include him. We want people to meet him and know who he is. Obviously we want to include our Chinese joint-venture partners as well in our tour.

The world public relations campaign is expected to start once the European Investment Bank and both Swedish and Chinese government agencies has approved the new owners. To Automotive News Tinson said that the company is hopeful that the media blitz will start within a few weeks.

This could mean that we will see a number of interviews in global media just like we did last year when Chairman Victor Muller and CEO Jan Åke Jonsson travelled all over the world giving interviews and speaking about Spyker Cars' acquisition of Saab Automobile and the plans for the future. So get ready for an interesting spring and summer!

Victor Muller talks to Aftonbladet

Swedish newspaper Aftonbladet was one of the many Swedish news media which attended Tuesday's press conference from Beijing over the telephone wires. Here is a translation of their summary of the conference call.

"Hawtai - a gift from above"
Hawtai becomes a Chinese major owner of Saab. This opens the door for export to China, manufacturing in China, perhaps a necessary diesel engine in the new SUV 9-4X and the transfer of technical know-how to China from Trollhattän.

For ailing Saab today’s news is godsend.

The day began with a press conference in Beijing and continued with a conference call where Swedish journalists could ask questions to Victor Muller of Saab. More or less all Swedish media were online.

- We have been negotiating with Chinese manufacturers for a year, said Victor Muller, and the last month when Saab has been in a crisis, we were courted by a dozen Chinese automakers. But Hawtai suits us best.

- They are about our size, they built 60,000 cars last year, and their owners Zhang Xiugen is an entrepreneur just like me. He is well regarded and he is also the largest shareholder in Bank of Beijing.

- In addition, Hawtai manufacture world leading diesel engines under license from Italian VM Motori, and just their V6 diesel has been mentioned in connection to our new 9-4X. They are a very good partner.

Can lead to new employment
The idea is that Hawtai will become the official importer to China of Saab's current models, 9-3, 9-5 and 9-4X. Today Saab has no importer in China, a market which is the world's largest and fastest growing car market. Chinese import means increased production in Trollhättan, and perhaps the need to hire new staff.

The current Saab models are built with technology from General Motors and can therefore not be manufactured in China.

- But the new 9-3, which we will launch in 2012 and future models will be built in a joint venture with Hawtai in their factories in China for the Chinese market.

"Increased interest from Antonov"
Muller was asked if Vladimir Antonov’s interest in Saab has cooled down now that the Chinese are buying a 29 per cent of Saab.

- Quite the opposite! He is even more interested now that Saab has such a strong financial partner.

The Chinese are interested in Saab's technology and want to start a collaboration to develop Hawtai’s own models.

- They want our electric rear axle for a plug-in hybrid and they want to access our electric car technology. Electric cars are very, very big in China, Muller said.

The cover was painted on
It is true that electric cars raise a big interest in China. At the motor show in Shanghai which just ended, almost all Chinese producers displayed an electric car, even if none of the producers had a car in production yet. The same thing applies to plug-in hybrids, many concept cars, but no production yet.

Hawtai had a plug-in hybrid on its stand, but it was such an early prototype that the cover over the charging outlet was not even real. The cover was simply painted on the side of the car.

- Hawtai built 60,000 cars last year, but their ambition is to build 500,000 a couple of years from now, Muller said. And that’s no fantasy.

"We lost 4,000 cars"
On Saab's own production this year, Muller at first did not want to say anything. But then he changed his mind.

- It is quite clear that we will not be up to the 80,000 we talked about. The factory has been stopped for nearly a month and we have lost 4,000 cars. But I do not know how far we will reach.

Yesterday, Saab got a loan from finance company Gemeni, and the money will be transferred within a few days and will be used to pay the subcontractors so that production can resume. Of the EUR 150 million which Hawtai is to pay, Saab will get the first payment next week, according to Muller and the entire amount will be available for Saab in six to twelve weeks. The only small hurdle now is an approval from the European Investment Bank (EIB).

- And that's just a formality, Muller said.

We may hope so. For the sake of Trollhättan. Up till now the EIB and the Swedish Government have been very restrictive with their authorizations and approvals.

EIB has approved the sale, but with unreasonable conditions?

In an interview with Dagens Industri web edition the vice president of the European Investment Bank (EIB), Eva Srejber, says that the EIB has made its decision about Saab's proposed sale of its properties to Vladimir Antonov's Convers Group, and this decision was communicated to Saab on Thursday. She also says that it's only the approval of General Motors that remains. And in doing so she also implies that the EIB has approved of the sale.

But Dagens Industri has also been in contact with their sources within Saab, which tells the newspaper that the EIB set some conditions to approve the deal and these conditions are highly unreasonable. One condition is that the whole loan of SEK 3.6 billion must be terminated within 90 days when the collateral in Saab's properties is handed back to Saab. Here's what the source says to the DI.se:

 - An unreasonable demand for a company that must give the subcontractors predictable working conditions and confidence in Saab's ability to pay, says a source with connection to Saab and the Antonov group, who are upset about the fact that the EIB then gives Saab such a short time for such a large refinancing. 

The EIB also claims that General Motors must approve of the deal and that GM so far has not. But Dagens Industri's sources says that GM has approved and GM's management in Detroit has even sent a letter to the EIB about the issue. In the letter the following is said:

 "GM will, if necessary, remove all restrictions about ownership in the agreement if it is necessary to complete the property sale"

"If necessary, we will be available to clarify any uncertainties in the sales transaction and participate in a teleconference with the EIB, the National Debt Office and Saab Automobile on Monday, April 25"  

I will repeat what I wrote a few days ago: What's up with the EIB?
Is this an example how bureaucracy can virtually kill a company?

The EIB faces no risk with the loan to Saab. It is the Kingdom of Sweden through the National Debt Office and the Government that takes all the risk by guaranteeing the loan. So why set all these new and unreasonable conditions?

Saab really needs to get out of this mess of bureaucracy and politics! 

Saturday notes from the media

This post was previously known as Good Friday notes, and then I realized that it's Saturday!

First, Victor Muller talks to CNNMoney on video. He is still very confident about Saab's future:





Everybody is upset with the European Investment Bank, including me.
To Swedish newspaper Dagens Industri, the Director of the Swedish National Debt Office says the following:

- We think they should try to help in this situation, and speed up the process. My feeling is that there is too much bureaucracy in the EIB, says Bo Lundgren.

- I thought that Saab would get a reply before the weekend.

As reported a couple of days ago, also Eric Geers at Saab is upset with the EIB:

- We are a bit surprised that their decision takes so much time. It is for us a mystery.

The CEO of the suppliers association is also upset:

- It is almost unbelievable that the EIB is taking so much time. They do not seem to understand that the situation is getting very serious for more parties than just Saab.

To Svenska Dagbladet, Victor Muller, acting Chairman and CEO of Saab, expresses that he is not happy with the EIB:

- The situation is almost absurd because the EIB does not take any risk. They have the kingdom of Sweden, with its AAA credit rating guaranteeing everything. You can not get a better guarantee than Sweden.

He also tells about Saab's search for a long-term partner in China, with what must become a Victor Muller classic:

- Saab is an attractive bachelor who equally attractive women will want to marry and have beautiful children with in China.

Volvo interested in Saab?

According to Dutch De Financiele Telegraaf, Volvo Cars could be interested in taking over Saab Automobile. This according to a source within Volvo. Unfortunately I do not read Dutch, but from what I can understand this is supposed to be on request of the Swedish Government. Anyway, I think I will let this Easter bunny jump for a while and mature before I catch it and prepare it for dinner!

Now both Volvo and the Ministry of Enterprise have dismissed the rumor that Volvo would be buying into Saab. 

Vladimir Antonov - not your usual banker

Today Swedish TTELA has a big piece on Vladimir Antonov, the guy who might become biggest part owner of Saab. If you want to get to know him a little better, then read on. If you are Swedish, then visit TTELA.

Vladimir Antonov - not your ordinary banker

He has been in the Swedish media's attention since Spyker's purchase of Saab. Then he had to leave the deal he had helped to prepare. Now he is hoping for a green light.

TTELA can present Vladimir Antonov, the somewhat unassuming 35-year-old owner of an increasingly global billion empire with interests in everything from banks in Switzerland to telecom companies, tram manufacturers and media companies in Russia and the Baltics.

20 June 1975 the 24-year-old scientist and engineer Alexander Antonov, had a son, who according to Russian custom was given the middle name after his father, Vladimir Alexandrovitj Antonov. There was no shortage of talent in the family - Alexander's father and Vladimir's grandfather was one of the founders of the Soviet atomic weapons program. Even Alexander ended up in this field. As an engineer, he worked on sites where they enriched uranium and before the Soviet collapse he reached the position as one of the chief engineers at a plant in Tjkalovsk in northern Tajikistan. There the activity, when it reached its peak, had 30 000 employees.

Moved to Moscow

In this Soviet republic, which borders to China and Afghanistan, Vladimir grew up. But with the dissolution of the Soviet empire and the subsequent independence, it was difficult for ethnic Russians living and working in a country that became increasingly nationalistic and where the majority of the people were Persian-speaking Tajiks people.

But even before the father Alexander left the country, the 17-year-old son, Vladimir, had went to Moscow, with the plan to follow in his father's footsteps and begin an engineering degree at a prestigious university in Moscow. But soon he realized that his mind was set on a different track: economics and banking. His career change was motivated by there being a greater need for bankers than engineers in Russia following the Soviet collapse. And the choice would prove very successful.

In 1993 he began the business education in Moscow and completed an business degree in 1998, 23 years old. But even before that he had engaged into the professional life that would offer a quick way up for talented people with business sense in a strongly growing economy. It is worth noting that the first car he bought, 19 years old, was a Saab 9000. The interest in cars had been there a long time, among other things, he collected model cars. This interest in cars, many years later become of crucial importance for the car company which has its headquarters in Trollhättan, 2350 kilometres from the place the young Antonov bought his first car of that very same make.

Bought a bank

The start of the business empire that currently has assets of at least SEK 44 billion, was done when Antonov was 22-23 years old and had earned a hefty sum of money after successful investments as the Chief Financial Officer with a focus on companies at the Moscow Bank Lefko. With the help of this money, and possibly also with his father's resources and contacts in the academic world, he was able to acquire a bank, Akademkhimbank, which was owned by the university but was on the brink of extinction due to the Russian banking crisis of 1998, for a very small amount of money. What would be a successful business model got its first display here: Vladimir Antonov with the help of his father acquires a bank, or a company that was undervalued and on the brink of extinction and get it back on its feet, with a competent board, internal control and IT systems.

From here you can also trace one of the things that have been a burden for Vladimir and Alexander Antonov: a person who did not belong to the bank, but had affairs with Akademkhimbank was shot and Russian media wrote about this bank and several others could be dodgy. However, there were no allegations against Antonov from the police or prosecutors. But there are sources in one of the reviews of the incident which shows that corrupt officials may have had an interest in spreading such rumors for their own personal gain.

Lives in England

In 2003 a big step was taken towards the empire which Vladimir Antonov now controls: Russian Conversbank found itself in a raging storm after an ownership battle and Antonov, who did not belong to any of the fighting parties, were able to acquire the then-undervalued bank. That same year Antonov also bought the Lithuanian bank Snoras, after the bank had been discredited due to a link to money laundering. The reason Antonov was able to buy the bank was because the Lithuanian authorities wanted to have an owner who could get the bank back on its feet.

And after that, the wheels have spun very fast in Antonov's empire, which is controlled from England where he now lives with his family. And from there he has continued to build the business empire that soon may also have Saab as an asset in the portfolio. The companies controlled by the holding company Convers Group is not just about banking and financial institutions like Snoras in Lithuania, Conversbank in Ukraine, Prince Tower in England, Banco Transatlantico in Panama or Mulitasset in Switzerland.

A family man 

In the transport sector one can mention Baltic Aviation Systems, which owns the Latvian airline AirBaltic. And here is also one of the largest Russian manufacturers of telecom networks, Svyazstroy. And Antonov is through his group of companies a large owner of media: Latvian Telegraph newspaper, Lithuanian Lietuvos Rytas and Russian business daily Odnako. And in the automotive industry the Convers Group owns the companies Spyker, Zagato which manufactures luxury automobiles and British CPP. And when it comes to sports, Antonov is very active through Convers Sports Initiative.

Recently they have opened the fast lending institution Convers Money in the UK and in the same country also DBG Convers that specialize in "apps" for mobile phones and social media. Not bad for a 35-year-old who by the people around him are described as friendly, polite, a bit shy, and a family man.

Photo: Vladimir Antonov - a 35-year-old who can be considered as a business genius.

Antonov sports empire

In particularly through Convers Sports Initiative, Vladimir Antonov is sponsoring or co-owning the following activities: 

• Spartak Moscow (hockey team)

• Lietuvos Rytas (basketball team)

• PowerPlay Golf (golf tournament with Saab as a sponsor)

• Polo World Series (polo tournament)

• Ferrari Team Russia (racing team)

• Spyker Squadron (racing team)

• Clipper Round the World (yachting competition)

• Fia World Rally Championship (race)

In addition, plans are to buy a English football team - for example, Portsmouth FC, who are in distress.

Sources: Project report Etna IV by Kroll, the report on the Convers Group by Ipsa International, a major Internet research, oral sources and an TV reports by SVT. 

Related posts:

• More on Vladimir Antonov's extraordinary life 
• Want some facts about Vladimir Antonov and his companies?

Auto Motor & Sport talks to Victor Muller at NYIAS

Swedish Auto Motor & Sport has had a talk with Saab's Chairman Victor Muller at the International Auto Show in New York. Here's a translation:

Alrik meets the most pressured man in Sweden - Victor Muller 

"This is the first time a bank must accept that we will borrow less money ... But that's the way it is with Saab. Everything we do is unique." says Saab's owner Victor Muller to Alrik Söderlind. 

Editor in Chief Alrik Söderlind is at the motor show in New York where he met with Saab's owner Victor Muller. 

Victor Muller is in a really good mood at the New York salon. He only slept three hours last night, but now the decision from the European Investment Bank is close. 

Saab's booth basically looks like a smaller copy of the booth which was in Geneva - and it applies to all producers except Dodge which is going large. 

We are sitting in the Saab's meeting room and Victor is checking his email on his BlackBerry every three minutes.

He is awaiting the results from the European Investment Bank.

"You want lunch?"

Victor gives me a plastic box with a wrap, a cake and potato chips. But he takes only half a portion himself and his secretary Michelle gets the offer of half a lunch. She laughs. And gets a whole package.

A little talk, then a look at the phone. No. Not yet. No message.

Of course, Victor does not reveal anything new but what still makes him perplexed is the Swedish press.

"When GM owned Saab, they could not do anything right. The media was on their back all the time. And it's the same thing now. In Sweden things are different. Media is different. The aggressive tone against Saab is remarkable. It will be a national debate. I should have been better prepared for it."

Victor says they should have managed the recent crisis and dealt with the money problems and the media better.

"Saab is like a small child, who learns to walk. We make mistakes sometimes, but we learn. We would have gotten through the acute money problems if not all sub-contractors had come at once and demanded money."

- What about Vladimir Antonov?

"I have worked with the process for more than ten months. We are on it."

- Do you have any other major partners in the pipeline?

"Since day one I've been working on various options. We can do with Antonov. I'd rather not water out the shares. But I'm not dumber than I'd rather water out the shares and get a really good partner than keeping the shares as they are and miss a good chance to grow and become profitable. "

Looking at the phone.

- What about the CEO's appointment?

"Right now we are keeping a bit low. We have to fix the finances first. No one leaves a really good job in the current situation to work for Saab. But we have a number of people who are on the short list. It would be really good with a Swedish CEO, but it's not a necessity. But it would be good." 

Looking at the phone.

- How do you see the future?

"My job is to always look forwards, never backwards. I have a lot of plans. But my job is to do business and bring Saab forward, not to run the company day by day. So we must have a good CEO.

Looking at the phone.

And then Michelle says that it is time for the next interview.

"She is my slave driver. All the time new things to do ... But we live on adrenaline. You can sleep when you're dead! And we will fix this."

To be the most pressured car industry manager Victor is in a rudely good mood. I hope it's a good sign.

Wednesday notes from the media

Updated with the second to last paragraph from SvD
Updated with last paragraph from Reuters

Yesterday Swedish newspaper Dagens Industri reported that their sources said that Saab was in discussion with two different Chinese companies to solve the long-term funding of Saab. Today Reuters can report that the President of BAIC says that they are not in discussion with Saab at the present time:

A top executive at Beijing Automotive Industry Holding Co (BAIC) said on Wednesday the Chinese state auto group was not currently in talks to invest in ailing Swedish car brand Saab, with which it shares some vehicle technology. 

"It's two separate companies, but we have a very good relationship," BAIC President Wang Dazong told Reuters at an auto industry conference in Shanghai.

 "But as always if there was a really good opportunity we have an open mind," he said, adding that he had not been approached so far about investing in Saab, which is owned by the Dutch group Spyker.

So maybe we can forget BAIC in this regard for the time being.

The short-term funding solution regarding the sale of Saab's properties is moving forward, although slowly. Dagens Industri writes that at the moment no one, neither Saab, Antonov nor the National Debt Office, wants to make any comments on the progress. But they also write that the NDO had a meeting earlier today where Saab was the issue.


Also in Dagens Industri is a article about the sale of Saab cars in Sweden the past weeks. According to the CEO of the Saab dealer association, the sales have been halved the last weeks:

- It's mainly because people are not certain when they can get their new car if they buy a new car today. We expect most of them to come back when things are sorted out, but at the moment the orders are almost halved, he says.

Let's hope this Easter will mark a new beginning for everybody involved with Saab!


Update I: Svenska Dagbladet reports that the reason that Saab's properties still aren't sold, is because Vladimir Antonov is not the only buyer. There are also at least one more player involved in the purchase of Saab's properties. Svenska Dagbladet also confirms earlier reports that in addition, Saab is in negotiations with Chinese companies (not BAIC) about part ownership, technology sharing and Saab production in China.

Update II: In an interview with Reuters published in forexpros.com Victor Muller has confirmed that Saab is in negotiation with a wide range of Chinese automakers about a tie-up to help Saab overcome the long-term financing challenge. He also said that for a short-term solution they are now waiting for the European Investment Bank's acceptance to sell the properties. A Swedish bank is ready to transfer the first installment of the payment to Saab.

Fresh money is on the way

According to Dagens Industri, the final details concerning the sale Saab Property AB to a company owned by Vladimir Antonov was worked out yesterday, and some time during today the first payment of EUR 30 million is expected to be transferred to Saab's bank account.

- We completed the property sale on Tuesday and the money can probably be transferred to Saab's account on Wednesday, says Lars Carlström [Swedish spokesman of Antonov].

With fresh money in the bank, Saab should be able to pay their suppliers and thus be ready to build cars again next week when Easter celebration is over.

Matthias Seidl: "Our orders are strong"

New York Times has been at the landfall of the Saab PhoeniX in Manhattan. There they took a talk with Chief Designer Jason Castriota and Sales Director Matthias Seidl. The most interesting part as far as I can see, is Seidl's statement on the sales:

At present, Saab’s Trollhattan factory is not producing cars, but Matthias Seidl, Saab’s vice president of global sales and aftersales, who attended the showing of the PhoeniX, said production was expected to resume soon. “We are a start-up company. We have our ups and downs,” he said.

The company hopes to have a solid economic basis shortly, including approvals for government funding and other financing sources. “Our orders are strong,” he said, without revealing a number. He did allow that the order backlog measured at the equivalent of “four to six weeks.”

Head over to NYT if you want to read the whole article. Let's hope will be the first of a long series of positive articles from Saab at the New York Motor Show!

A Chinese lead on long-term financing?

According to todays Dagens Industri, Saab is in negotiations with Chinese companies to solve the long-term financing of Saab:

- Saab is working intensely on several parallel tracks, and the amounts in question are several billion Swedish kronor. Among other things, there are negotiations with two Chinese car companies about some type of long-term ownership cooperation. There is a great value in the Saab brand, says a source according to DI.

According to the newspaper, BAIC's CEO has in several interviews shown interest in Saab. And even sale of parts of Saab's new Phoenix platform is mentioned as a possible solution.

Earlier this month a Dagens Industri report also mentioned that Saab was looking to China. Here's what I wrote 6 April:

"Saab also works to raise money by selling licenses and cooperation on the new platform Phoenix. Talks have been held with stakeholders including Chinese, says the company."

I have also reported earlier that TTELA has written that Saab is looking to China to bring in capital, and today TTELA writes the following about the China lead:

The background for the supposed Chinese lead was a number of interacting factors: Among other things, Muller expressed that it would be interesting to manufacture the next 9-3 in China on a fair a few weeks ago. The fact that in Geneva he said that Saab could raise funding to use on the next-generation car models from the Phoenix-architecture, if they shared the architecture with external partners. And the fact that Saab managers have visited China for business that do not seem to be linked to the agreement to establish a distribution network with Chinese CATC.

So there is definitely something going on with Saab and China!

Monday notes from the media

According to Svenska Dagbladet, the conditions for selling Saab Automobile Property AB, are more or less fulfilled. Saab and the National Debt Office have agreed on the principles this past weekend. There are just a few details left to sort out. This will happen tomorrow and then the Swedish Government will give it's final approval of the deal. Then the European Investment Bank will have the final say, and it is expected that they will say yes and it will happen sooner rather than later.

Furthermore, Svenska Dagbladet also writes that the price for the properties will be around SEK 900 million, which is approx. the market value. The first payment will be SEK 300 million. In other words, a good price.

Swedish Radio reports that Saab has not paid the rent on their old transmissions factory in Gothenburg. So I guess that's another debt that needs to be dealt with as soon as the fresh money is in the bank.

Current Mini platform underpinnings for new small Saab?

Many of you have probably already read about this on other blogs or automobile news sites. Anyway, last week AutoCar could report rumors that Saab is interested in buying the current Mini platform when Mini moves to a new platform in 2012. Saab would then use this platform as underpinnings for a small Saab.

We already know that a small Saab is a high priority for Saab's Chairman and soon to be acting CEO, Victor Muller. In addition, Muller's financier and friend, and the man who soon can become a part owner of Saab, Vladimir Antonov, has expressed willingness to finance a small Saab if he becomes owner. From earlier it seems that AutoCar and writer Hilton Holloway has good connections at Saab, so maybe the rumors from AutoCar isn't so far fetched. 

Below is a  rendering of a small Saab by Worldcarfans.

Saturday notes from the media

Okay, so I couldn't stay completely away and here's some notes from Swedish media.

TTELA writes that it's unclear when Saab can start production again, it can probably not start until after Easter:

Unclear on the start of production at Saab

It is unclear when production of cars can start again at Saab in Trollhattan.

- We are waiting for the European Investment Bank's decision, says Saab's communications director Eric Geers. But there will probably not roll any new cars out of the Stallbacka factory until after Easter.

- There is still no cars being built at Saab and noone seems to know when the production can start again. But yesterday the Government came with their reply: Saab Automobile may - under certain conditions - sell its property and thus solve the acute liquidity crunch.

After the Government gave its approval for Saab to make changes in the loans from the European Investment Bank (EIB), the ball is now in the EIB's court.

- Theoretical Saab could get the money already when banks are now opening on Monday, but it will probably take longer than this, says Daniel Barr from the National Debt Office, which handles the matter for the Government.

At the EIB they won't way when a decision will be taken, or when Saab can get the money.

- We do not comment on the matter because of bank confidenciality. Saab is our customers, says Eva Srejber, vice president of the EIB. 

Eric Geers hope that a decision from the EIB will come early next week. But even if the decision comes fast, the solution is not just pushing the button. Once funding is secured, Saab has to reach an agreement with the suppliers.

- We are in continuous contact with our suppliers, says Eric Geers.

And when they have agreed it will take about one week to get production going, Eric Geers estimates. So even if everything runs smoothly, it doesn't look like Saab can build any cars until after Easter.

- Next week is an important week.

If production starts in week 17, the company, according to Eric Geers, will have lost production of about 2000 cars. But this could then be caught up in week 20.

But to sell the property is not the only way that Saab is trying to raise money.

- There are several parallel tracks in terms of funding, says Eric Geers.

But he will not say anything about those tracks because it's too early in the process.

At the same the Government's decision yesterday was of course welcomed.

- It was positive, says Eric Geers.

TTELA also reports that the suppliers are positive and again ready to supply Saab:

Subcontractors positive to restart

The subcontractors, who stopped their supplies and thus Saab's production when they were not paid, is positive to Friday's decision.

- I believe that suppliers are willing to discuss a restart, says Automotive Component Group CEO Svenåke Berglie.

To re-start production at Saab will take time according to Svenåke Berglie.

- The pipes are empty. It will take a week or so.

On Friday Svenåke Berglie spoke with some of the subcontractors to Saab.

- The people I have talked to are willing to discuss a restart.

The money from a sale of the property means that Saab can start paying the debts to the suppliers.

- Then they absolutely have to increase the car sales. Otherwise, it will not work out. There must be a cash flow.

Dagens Idustri writes that Antonov is happy about the Government's decision from yesterday:

Antonov happy with the decision on Saab

Vladimir Antonov received news of the Government's decision on the Saab deal through his Swedish spokesman Lars Carlström.

- He was thrilled, says Carlström.

Antonov, who was on vacation in Argentina, is now in the U.S..

- But it's not really a done deal yet, saya Carlström about the Saab deal. It is important that we can finish the deal early next week.

Friday's statement on the properties was only the beginning.

- Now we have a good chance to revive Saab again, says Carlström. It feels like We can get this done now.

Antonov also wants to become part owner of Saab, not just buy the factory buildings.

- We expect that the issue on Antonov can be resolved next week.

Then the talks can start again on the Russian financier becomming a part owner.

- Then we can secure Saab's continued funding, says Carlström.

Saab cars reach emissions targets in EU

SaabCarDeals can report that Saab cars now reach the emissions targets set by the EU for 2012. In the first three months of 2011, Saab cars had an average of 142.08g/km, which is a reduction of the emissions by 21.69 percent compared to the first quarter 2010. Each individual manufacturer has its own average target set by the EU. The target is based on the weight of the vehicles. Manufacturers who fail to meet its average targets may be fined by the EU in the next year or beyond. To read more about the Saab cars emissions, visit SaabCarDeals.

Saab short-term funding is secured

In a press conference a few minutes ago, Minster of Enterprise Maud Olofsson told the press that the Swedish Government has decided that Saab Automobile AB can sell it's properties.

The Swedish National Debt Office and the Swedish Government got a request from Saab Automobile AB yesterday asking if Saab can sell the subsidiary Saab Automobile Property AB.

Today the Swedish Government has concluded that the National Debt Office can let Saab sell the subsidiary if Saab's loan in the European Investment Bank is reduced from EUR 400 million to EUR 280 million. There are also three other conditions:

1. The deal must secure that Saab Automobile AB gets paid a fair value for the properties and that Saab gets access to the facilities after the sale.
2. The National Debt Office must eliminate questions that remain about the buyer.
3. The payment is to be made through a European bank that is not connected to the buyer. 

Maud Olofsson confirmed that the buyer is a company linked to Vladimir Antonov.

The Swedish Government has not discussed the question of new shareholders in Saab. General Motors, the European Investment Bank, the Swedish National Debt Office and the Swedish Government must all agree before a new shareholder can get into Saab.

As far as I can tell, this means that Saab short-term funding is secured and that the factory can resume production as soon as possible. But the question of the long-term funding remains.

Edmonton Journal reports that first new Saabs in 16 months have arrived!

According to Edmonton Journal, the first new Saab cars in 16 months arrived in Edmonton 5 April. That's a long wait for faithful Saab enthusiasts and when the new cars arrived must have been a joyful day for both the dealer and the Saab fans!

Rejoice, Saab fans -they're back in Edmonton
Long drought ends with delivery of 2011 models to west-end dealership
After a new vehicle drought of more than 16 months, the first new Saabs arrived in Edmonton on April 5, when two tractortrailers unloaded 2011 Saab 9-3s and 9-5s at west-end dealer Saab of Edmonton.

Supplies of new Saabs are trickling back into dealerships after production of the vehicles was disrupted in late 2009 when General Motors was divesting itself of the Swedish brand. Saab of Edmonton spokesperson Amedeo Palazzo says his inventory of new stock continues to build, and new-vehicle sales are increasing as existing and former Saab owners now have a local dealer after the previous dealership closed more than one year ago.

When we visited Saab of Edmonton last week, a well-equipped, allnew-for-2011 9-5 (black with black leather interior) sedan was on the showroom floor. The new 9-5 looks to be a competitor car in the Euro sport sedan segment.

Government decision about Saab's funding plan may come today

Yesterday morning Saab handed in a plan on how to solve the recent cash crunch the company is having to the National Debt Office (NDO). The NDO went throught the plan and sent the plan and their recommendation to the Swedish Government yesterday afternoon. The decision is now in the hands of the Government.

According to Dagens Industri, the Government can make a decision today. The press secretary of the Minister of Enterprise says that a decision will come as soon as possible:

- We have worked both evening and night and will make an announcement as soon as we possibly can, says Maud Olofsson's press secretary Eric Bratthall to di.se on Friday morning.

He declined to reveal any details about the NDO's recommendation:

- The National Debt Office has two issues to consider. One is a proposal on improving liquidity, the second is about the actual question of ownership. The latter will be completed next week. At the moment I can not say what the liquidity improvement is about.

The decision about the liquidity issue can come later today:

- The issue is now dealt with by Minister of Enterprise Maud Olofsson and the officials at the Ministry. A decision will ultimately be made together with Prime Minister Fredrik Reinfeldt. It may be made at an extraordinary cabinet meeting as early as Friday.

- There is no reason to delay a decision and when we're ready we'll take a Government decision, says Erik Bratthall.

Is the Government ready to make a decision today?
- The Government is always in ready and additional cabinet meetings often take place, says Erik Bratthall.

And so we have another day of waiting ahead of us.

BAIC C60F - the China Saab - will be launched May 2012

When Saab was for sale back in 2009, one way for Saab to raise money was the sale of the technology of the previous Saab 9-5 and the 2006 Saab 9-3 to Beijing Automotive Industry Holding Co (BAIC) of China. Today China Car Times can report that BAIC will launch the C60F, which is based on the Saab 9-3, in May of next year at the Beijing Auto Show, and the C70F, which is based on the Saab 9-5, will  follow thereafter.