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.

Tuesday, April 10, 2012

Day of final bids is here

If you want the Saab and not just a Saab, then you better hurry up and place your bid. Reason being that the bankruptcy administrators have set today as the definite deadline for those parties who want to buy the entire Saab Automobile.

So who do you have to compete with?

At the moment we have no comfirmation that any party has placed a final bid, but we can assume that some of these parties have or will:

China Youngman Automobile Group
A Chinese vehicle manufacturer with the ambition to become a notable player in the passenger car industry. Currently Youngman is developing and manufacturing cars with Proton/Lotus technology. Now they want to start using Saab technology. Reports have it that Youngman wants Saab in its entirety, which means development, manufacturing, spare parts business – everything. And they are ready to invest SEK 12 billion in new Saab models.

Mahindra & Mahindra
Part of an Indian conglomerate with operations in 100 countries around the world. The group is engaged in agribusiness, automotive, construction equipment, defense, energy, farm equipment, finance and insurance, industrial equipment, information technology, leisure and hospitality, logistics, real estate, retail and more. The automotive part of the group is India's second largest vehicle manufacturer and is mainly developing and manufacturing SUVs and off road vehicles. Mahindra uses technology from Jeep, Renault/Dacia, from suppliers and from SsangYong which Mahindra acquired in 2011. Now it has been suggested that Mahindra wants Saab for its technology.

Japanese-Chinese consortium
Consists of automotive suppliers from Japan and China. Wants to focus solely on electric vehicles, possibly not branded as Saabs. Is said to be backed by financially strong players.

Swedish consortium
A Swedish consortium has also been mentioned. We know very little about this consortium. It could be a Swedish initiative for electric vehicles.

Other players?
The rumour mill has it that also BMW, Panasonic, Bejing Automotive, Magna and more could be interested.

We have some very exciting and nerve wrecking days to come.