Saab 9-4X earns IIHS' Top Safety Pick

The Saab 9-4X has earned a top score in the Insurance Institute for Highway Safety's crash test. The Saab 9-5 earned the same score last month.

To earn a Top Safety Pick rating the vehicle is required to get top marks in all crash tests (side, frontal, and rear-end, plus roof-crush and mandatory inclusion of stability control). The 9-4X made top scores in all tests.

The press release from Saab: 


Trollhättan, Sweden: The new Saab 9-4X crossover has earned ‘Top Safety Pick’, the highest rating for crashworthiness awarded by the Insurance Institute for Highway Safety (IIHS) in the United States. Only three weeks ago, the Saab 9-5 Sedan received the same accolade.

“To achieve two Top Safety Picks in three weeks is, of course, extremely gratifying,” says Per Lenhoff, Head of Safety Development at Saab Automobile. “Our main priority is always the protection of real people in real accidents, but the IIHS tests are a valuable guide for consumers and it is important for us to achieve good results.”

IIHS is a research and communications organization funded by auto insurers in the US. The test procedures include front impact (offset) and side impact crashes. Seat/head restraints are also tested in a simulated rear-end impact to assess protection against whiplash injuries and the roof structure is tested to assess vehicle rollover protection.

Performance is rated as ’Good’, ’Acceptable’, ’Marginal’ or ’Poor’ in each of the tests and to achieve the ’Top Safety Pick’ award, cars must achieve the highest rating in all four procedures and should also be fitted with ESP®.

Saab announces deal for the development of three new Saab models

Today Saab has issued a press release announcing an agreement with Youngman on the formation of a Sweden-based joint venture company for the development of three new Saab models. This joint venture will be 50 percent owned by Saab and 50 percent by Youngman, and will work to expand Saab's product range with three completely new models, a Saab 9-1, a Saab 9-6X and a Saab 9-7.

Saab will be responsible for controlling and managing the design, the development and testing process to the start of production and providing other necessary technical and quality control support. For this, Saab will source existing capabilities and expertise from its state-of-the-art technical development department in Trollhättan. Youngman will be responsible for providing the necessary financial investments in the joint venture. The agreement is subject to approval from relevant authorities.

"Our ambition has always been to broaden our product range", Saab's Executive Director of Communication Eric Geers told TT. He continued saying "but we never comment specific on how the models will be".

"This joint venture will only concern the Saab brand. I can not go into the time frame, but to develop car models takes quite a while", Geers said to TTELA.

Saab 9-1 sketches from TopSpeed

Saab also announced that the MoU concerning investment in Saab's parent company, Swedish Automobile, signed with Chinese companies Pang Da and Youngman on 13 June has now been finalized. The agreements are still subject to approval by Chinese and Swedish authorities and the European Investment Bank and GM. This deal will see the Chinese companies invest EUR 245 million in Swedish Automobile/Saab.

"This is an important step. Now we have an unconditional agreement with the Chinese. It is a very important step, long term, you could say," said Eric Geers to Swedish Radio.

It was also announced that the agreement with the Chinese also will allow for the return of Mr. Vladimir Antonov as a shareholder/financier of Swedish Automobile/Saab. A return the parties expect as soon as Mr. Antonov has been approved by relevant stakeholders.

Saab and the Chinese companies continue working to reach final agreement on the tripartite distribution joint venture and a tripartite manufacturing joint venture for Saab-branded and child brand vehicles in China.

New Saab chief for North America

Updated with a few words from Colbeck himself

Saab has issued a press release today stating that Timothy Colbeck, formerly Subaru senior vice president sales, has joined Saab to become new president and chief operating officer of Saab Cars North America.

Tim Colbeck

Saab's Vice President and Head of Global Sales & Aftersales, Matthias Seidl says the following:

- Tim’s impressive accomplishments during his automotive career in rebuilding the Subaru brand are invaluable to the Saab team and represent his ability to further Saab’s vision for success. We are pleased to have Tim join our North American team during such an exciting time for Saab Cars North America and we are confident Tim will help increase our brand image and sales.

According to Detroit News, Tim Colbeck has said the following about joining Saab:

...something without bureaucracy or politics. That was the appeal. The future of Saab from a product perspective is outstanding. Saab is an entrepreneurial company. It's a start-up.

As far as I know Subaru has done good in the USA recent years, and maybe especially in Saab's traditionally strong regions. So this sounds like a good appointment!

Press release: Saab Automobile Enters Agreement With Hawtai Motor Group On Strategic Partnership

Saab has just issued a press release concerning the announced strategic partnership with Hawtai Motor. The press release is below.

Saab Automobile Enters Agreement With Hawtai Motor Group On Strategic Partnership

Trollhättan, Sweden: Following yesterday’s announcement that Spyker Cars N.V. (Spyker) secured its short term funding, Spyker announces today that Spyker and Saab Automobile AB (Saab Automobile) signed an agreement with Hawtai Motor Group Company Limited (Hawtai). This agreement conditionally secures medium term funding and includes financing in the form of subscription agreements in the amount of EUR 150 million as well as a strategic alliance for China including joint ventures on manufacturing, technology and distribution.

• Spyker, Saab Automobile AB and Hawtai Motor Group sign agreement on strategic alliances partnership with respect to manufacturing, technology and distribution in China, subject to definitive transaction documentation
• Spyker will enter into a subscription agreement with Hawtai in the total amount of EUR 120 million for in aggregate 24.6 million shares as well as a EUR 30 million convertible loan, subject to definitive transaction documentation and certain conditions

As a part of the transaction Hawtai will invest EUR 120 million for up to a maximum of a 29.9 percent equity stake in Spyker on a fully diluted basis. The remaining EUR 30 million will be in the form of a convertible loan agreement in the amount of EUR 30 million with a 6 month maturity, an interest rate of 7% per annum and a conversion price of EUR 4.88 per share. The transactions are subject to agreement on definitive transaction documents and certain conditions, which include consents from certain Chinese governmental agencies, the European Investment Bank and the Swedish National Debt Office. As part of the transaction, Tenaci Capital will convert EUR 42 million of its current loan to Spyker into share capital in Spyker at EUR 4.88 per share, thereby substantially reducing Spyker’s interest burden.

Victor Muller, CEO of Spyker and Chairman of Saab Automobile, said: “The partnership with Hawtai allows Saab Automobile on the one hand to continue executing its business plan since we secured the required mid-term financing subject to meeting certain conditions, whilst on the other hand it allows Saab Automobile to enter the Chinese car market and establish a technology partnership with a strong Chinese manufacturer.

“We expect that Saab's unique brand values based on its aviation heritage, Scandinavian origins and innovation-driven character will do very well in the Chinese market. Our driver-oriented vehicles appeal to a whole new group of independently thinking customers who appreciate Saab's advanced designs, safety and responsible performance.

“With Hawtai's clean diesel engine technologies and production capacity, and its ambitious development programs, we have found the right partner to develop the Saab business and build a solid relationship.”

Mr Richard Zhang, Vice President of Hawtai, said: "This is a great day for our relatively young company which was founded ten years ago. The partnership with the iconic Saab brand will give us access to innovative technologies and an international network which would have taken us decades to build. On the other hand we have a very strong Chinese manufacturing and distribution infrastructure which we will make available to our new partner Saab Automobile. Our participation in Spyker, Saab's parent company, demonstrates our commitment to the future of Saab Automobile as a premium European car manufacturer."

Founded in 2000, Hawtai is a China-based privately-owned automotive company with its headquarters and R&D centre located in Beijing, and two production facilities located in Ordos, Inner Mongolia and Rongcheng, Shandong Province. Hawtai currently has an annual production capacity of 350,000 vehicles, 300,000 clean diesel engines and 450,000 automatic transmissions. By 2015, Hawtai aims to have raised this capacity to 1 million vehicles, 1 million engines and 1 million automatic transmissions, and to have established itself as a global leading automotive company.

Spyker Cars: Still working with all parties involved to complete property sale

Spyker cars has just issued a press release about the ongoing work to find a solution to Saab's financial troubles. Here's some excerpts:

...the EIB informed Saab Automobile last Thursday that it will only give its consent to the sale of Saab Property if certain additional Conditions are met. The conditions relate - amongst others - to the obligation of Saab Automobile to refinance the sale of Saab Property or replace the purchaser within a limited period of time. Further, the consent to the transaction by the EIB would relate to a partial sale of Saab Property only. In addition, the EIB is requesting further clarification and confirmations from the NDO, the Swedish Government, GM and Saab Automobile.

Spyker and Saab Automobile continue to work on securing additional funding. To that end Spyker and Saab Automobile are negotiating equity and debt financing and/or technology licensing with various strategic partners, including various Chinese car manufacturers. No commitments have been received to date.

Finally, Mr. Vladimir Antonov awaits the approval from the NDO and the EIB to be allowed to act as a financier of Saab Automobile and to become a shareholder of Spyker.

To me it looks like the EIB do not object to the sale of the property, but they object to the buyer Vladimir Antonov. We know that GM do not object to the buyer and the Swedish Government and the National Debt Office do not object to the buyer. So why does the EIB object?


The complete press release can be read over at Spyker Cars Internet page.

Press release from the National Debt Office regarding funding of Saab

The Swedish National Debt Office has a press release today regarding the sale of Saab's properties. For some reason the European Investment Bank (EIB) seems to be taking time to approve the deal. 
The National Debt Office also mention that the decision if Antonov can become part owner of Saab is not yet finished because Antonov so far  has not been available for a meeting. Here's the press release translated to English:

The National Debt Office will free parts of the Saab collateral

The National Debt Office on Tuesday completet the work to examine the financial solution presented by Saab Automobile AB.

An agreement on the principle was ready on Sunday night. Saab drafted an agreement on Monday and on Tuesday there were made minor adjustments in the contracts.

Now the National Debt Office and Saab await the approval from the European Investment Bank, EIB.

In order to enable the financing solution, the National Debt Office will releasing parts of its collateral in the form of shares in Saab's real estate company. The aim is that Saab will be able to sell shares in order to thus obtain liquidity to the company. The deal also requires the EIB's approval.

The National Debt Office has previously secured collateral for the entire loan facility of EUR 400 million, which Saab has in the EIB. To date Saab has made use of 217 million.

The National Debt Office intends to release a portion of the collateral for the portion of the facility that Saab has not yet exercised. At the same time the amount Saab can borrow from the EIB will be reduced from EUR 400 million to 280 million. 

The examination shows that the funding solution satisfies the condition that the Government and the National Debt Office have set, that is to say that Saab will get a fair price for their properties, that the issues related to the purchasing company has been handled, and that the payment is done through a bank in Europe.

The taxpayers will continue to have full security for the governmnetal guarantee to Saab, even after parts of the collateral has been freed. The reason is that Saab's total borrowing facilities in the EIB is reduced accordingly.

Owners' review

The owners' review of Vladimir Antonov is handled separately and is governed by the agreement that already exist between Saab and the National Debt Office. The National Debt Office and the Government will take individual decision in the question of ownership. In addition, the European Investment Bank and General Motors will make their own ownership reviews.

The National Debt Office's work with the ownership assessment is not yet finished, since Vladimir Antonov so far has not been available for meetings.

Importers for Russia and China appointed

Today Saab announced that importers for Russia and China has been appointed.

From the press release about a importer for China:

• Saab Automobile and CATC formalize principle agreement on China import
• Sales expected to start in second half of 2011 after establishment of legal entity of Saab in China
• Major step to re-establish Saab brand in China as expansion of Saab sales network continues

And from the press release about distribution in Russia:

• Saab continues to expand distribution network with appointment of new importer in Russia 
• Moscow-based Armand Import major player in Russian automotive sector

It's good to see that Saab is re-entering more and more markets. And these two markets are huge and the potensial for Saab is also huge. With the right products, the right partner and the right marketing, there are more than enough people with strong financial resources to buy Saab's in thousands.

Cybercom will contribute to IQon

Earlier this month at the Geneva Motor Show we were introduced to Saab's upcoming IQon infotainment system. This is a system based on Google's Android OS. IDG.se writes that the company Cybercom will contribute to the development of this system. Below is a translation of the article from IDG and Cybercom's press release.

Saab Automobile Norway extends the warranty to 5 years

Today Saab Automobile Norway announced that all Saab car bought through Norwegian Saab dealer 1 January 2011 and later, will have a five years and 100 000 km warranty. Previously the cars had a three years and 100 000 km warranty. During the first two months of 2011 most car brands in Norway have extended their warranty to five years and now Saab has followed.

This should make it safe to buy a new Saab in Norway!