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.

Timeline for new Saab

This timeline is a work in progress. There will be additions both as new things happen, but also historical events.


December: General Motors (GM) announce that their ownership of Saab Automobile AB has been set under strategic review.


January: GM's restructuring plan is presented, where GM says that Saab will no longer recieve any financial support.

February: Saab Automobile AB submits an application for reconstruction. The reconstruction is to be lead by court-appointed administrator Guy Lofalk and the debt settlement proceedings will be held at the Vänersborg district court. Saab’s largest creditor is GM, with over 90 percent of the debt. GM announce that Saab is to be sold. More than 20 different parties show interest.

March: Saab gives notice to 750 employees for dismissal.

16 June: It is revealed that GM is in negotiation with Swedish consortium Koenigsegg Group to sell Saab. They sign a letter of intent for the sale of Saab.

July: The deal with Koenigsegg Group is, among other things, subject to a EUR 400 million loan from the European Investment Bank. A loan that first needs guarantees from the Swedish Government, through their National Debt Office.

August: The reconstruction is ended. Saab’s debts have been reduced with 75 percent.

October: The European Investment Bank is ready to provide loans of EUR 400 million.

24 November: The sale of Saab to Koenigsegg Group falls through. Koenigsegg Group says that they have run out of time with regards to the business plan for Saab.

3 December: It gets known that Spyker Cars of the Netherlands has made a bid for Saab.

18 December: General Motors decides to close down Saab. Two days later Spyker makes a renewed bid.


26 January: Spyker Cars and GM reach an agreement for the sale of Saab Automobile AB. 

23 February: The sale of Saab Automobile AB from General Motors to Spyker Cars is completed.

March: After 45 days of production shutdown, the line once again starts in Trollhättan.

June: The new Saab 9-5 goes on sale and is favorably reviewed by car magazines around the world. 

24 September: Saab and AAM accounce that they will form a company named e-AAM which are going to produce and market a hybrid drive train for future Saabs.

29 September: Saab and BMW signs a deal for Saab to buy BMW's 1.6 litre petrol turbo engine, to be used in the next generation Saab 9-3.


23 February: Saab celebrates it's one year independence day and gives the guests a preview of the new Saab 9-5 SportCombi.

1 March: Saab officially premieres the new Saab 9-5 SportCombi and the Saab PhoeniX concept car at the Geneva Motor Show.

18 March: Saab and ZF Chassis Systems reach an agreement for ZF to supply front sub-frames and rear 5-link independent rear suspension for the next generation Saabs.

25 March: Managing Director Jan Åke Jonsson announces that he will retire in May. The annual report of Spyker Cars shows a loss of SEK 1.3 billion in 2010.

29 March: The Russian businessman Vladimir Antonov files an application to the National Debt Office to become a part owner of Saab Automobile.

29 March: Media reports that suppliers of Saab is not being paid and that deliveries to the factory are stopped.

5 April: Saab's management admits that Saab is in a difficult financial situation. Suppliers are not paid and refuse to deliver. The production line at the factory in Trollhättan stops and stands still "until further notice".

6 April: It gets know that Spyker Cars NV will change name to Swedish Automobile NV in May.

7 April: The first mentions in the media that Saab Automobile AB is negotiating with Chinese companies to secure further funding of Saab.  

21 April: Saab wants to enter into a sale and lease back deal on the company's properties to raise money, but the European Investment Bank sets conditions that make it impossible to finalize the sale.

2 May: Spyker Cars NV secures short-term financing for Saab Automobile AB from Gemini Investment Fund Limited. The funding consists of a EUR 30 million loan.

3 May: Saab Automobile announces a strategic partnership with Chinese Hawtai Motor. It is agreed that Hawtai buys up to 29.9 per cent of the shares in Spyker Cars. In return Spyker Cars receive EUR 120 million in payment for the shares and EUR 30 million in loan, and thus secures Saab's mid-term funding.

12 May: The deal with Hawtai is terminated as Hawtai could not get the nessecary approvals from Chinese authoroties.

16 May: Saab announce a deal with Chinese Pang Da Automobile Trade Co Ltd for the distribution and joint venture manufacturing of Saab vehicles in China. Pang Da buys 1,300 Saab cars immediatly for EUR 30 million and even more cars for EUR 15 million within 30 days when certain conditions are fullfilled. And also takes a 24 per cent stake in Spyker Cars for EUR 65 million.

19 May: At the shareholders meeting in Spyker Cars, Saab Automobile's parent company, Spyker Cars NV, change name to Swedish Automobile NV. President and CEO of Saab Automobile, Jan Åke Jonsson, retires.

27 May: Production at Saab's factory in Trollhättan was restarted after a seven week stop.

13 June: Saab announce that Youngman will join the partnership between Saab and Pang Da for joint venture manufacturing and distribution of Saab vehicles in China. In addition, Youngman will invest EUR 136 million in Saab. Pang Da will raise its investment to EUR 109 million.

9 June: Production at Saab in Trollhättan is temporarily suspended pending a more stable supply of parts and materials.

15 June: Saab's parent company, Spyker Cars NV, officially change name to Swedish Automobile NV.

23 June: Saab is unable to pay wages to all workers due to lack of funds. The wages are eventually paid approx. one week late.

4 July: It is announced the deal entered into with Youngman and Pang Da in June has been finalized and is awaiting approval from stakeholders.

26 July: Saab is unable to pay wages to white-collar workers due to lack of funds. The wages are eventually paid approx. one week late.

24 August: Saab says that for the thirds month in row, the company will not be able to pay wages on time.

7 September: Saab files for recontruction.

12 September: Two unions at Saab file for bankruptcy in the company in order to secure wage payments.

21 September: Saab is allowed to enter reconstruction. The Swedish states pays delayed wages for August and also wages for September. The unions eventually withdraw bankruptcy filings.

19 & 22 October: Swedish Automobile receives bids from Chinese Youngman and Pang Da for 100 percent of Saab. Bids are turned down.

23 October: Swedish Automobile terminates deal from 4 July concerning equity investments from Chinese Youngman and Pang Da in Swedish Automobile when the Chinese companies failed to confirm their commitment.

28 October: Saab announce that its owner Swedish Automobile has agreed to sell the company to the two Chinese companies Youngman and Pang Da for EUR 100 million.

7 November: General Motors disapproves of the plan to sell Saab to the Chinese companies. GM says that it will not supply Saab with technology should the sale be finalized, which would make sure Saab had no more products to offer.

4 December: New plan to sell 20 percent of Saab to Youngman and 29.9 percent to an undisclosed Chinese bank.

6 December: GM dissapproves again.

14 December: Swedish Automobile works on a final plan to save Saab from bankruptcy. This time a plan without changes in the ownership and thus a plan which does not violate any agreements with GM.

18 December: GM makes it clear that it will not support any plan which involves Chinese companies either as owners or financier of Saab.

19 December: Saab Automobile, Saab Automobile Powertain and Saab Automobile Tools file for bankruptcy after all attempts at securing funding has been stopped by GM. This happens two years and one day after GM decided to liquidate Saab 18 December 2009.


13 June: The administrators appointed to handle the Saab Automobile bankruptcy reach a deal with National Electric Vehicle Sweden for the sale of the assets of Saab.