Yesterday was one of the most terrifying days in the history of Saab. A bankruptcy can always be a fresh start, as I have often written in recent months. As soon as the bankruptcy trustees were ordered, the first interested parties knocked on the door.
It is not surprising that Youngman is back on stage (which I won a bet with). The investor from China wants to buy Saab out of bankruptcy and is already in the negotiations. Talks are also being held with GM, Youngman said they are “..very interested in a good relationship with Detroit”. However, the signs have changed. There are no more contracts for licenses and component deliveries, and everything is starting over, which makes it easier for both parties.
Youngman also leaves no doubt that they are ready to spend the winter without production for two years and then make a comeback on the Phoenix platform. Probably the largest creditor of Saab Automobile AB, it is a three-digit million amount accepted, one has good cards to win the contract.
In the run-up, Youngman has already secured the security of the Trollhättan site, while production, development and design remain in Sweden. However, it is said openly, the production will have a lower volume than the last years planned.
Not only Youngman is interested, but also a company from Turkey plays with and another European bidder. Not bad, because since the bankruptcy filing only 24 hours have passed and it looks like more serious buyers heading for Trollhättan.
General Motors showed its ugly face again yesterday. After you tapped the last nail on the coffin, you continued to fire. Saab 9-5 and Saab 9-4x (a topic we will talk about) are 100% licensed products. The Saab 9-3 should also contain 30% GM and the Phoenix platform should be contaminated by 10-15% of Detroit rights.
This is a political warning to anyone who wants to buy Saab. You keep on bunching and let it be seen that you are using GM when you buy Saab. GM, however, must be careful not to overstretch the bow. Depending on who buys Saab, one could get one or two blue eyes on the Potomac River.
While it does not look bad for the factory and the location, we will probably lose the Saab Museum if there is no sponsor. The municipality has indicated that the running costs are not sustainable. Maybe the region Västragötland helps or Saab fans want to donate. Because the historical collection should be preserved for Sweden.
It remains exciting and dramatic. We stay tuned.