Saab future in Sweden - update on development

The press in Sweden does not like Saab. The alleged smashing of the car maker seems possible. In the meantime, more details about the current situation of the cult brand have become known from reliable sources. What I have learned in personal conversations does not sound good at first and causes more questions than we could find answers to. But it's bidding time and that's sort of election campaign in politics. It is veiled, clocked and no one can look in the cards. Especially since there may be solutions that do not open up at first glance.

Let's start with Youngman. The offer for Saab should be so low that a rejection is inevitable. Our source speaks of around 2 billion crowns, which is around € 220 million. Several independent sources have now confirmed a bid in this range. The value of individual parts of the business alone is higher than this offer. Is it just a banter from Rachel Pang to add something later, or is Youngman only bidding on individual parts of the company? Or do you play the joker of jobs? Anyone who expected the Chinese to march through quickly will be disappointed by now at the latest. If you stick to this bid, you can already buy the ticket to Beijing from the delegation.

The position of Brightwell is considered unrealistic. No one believes that negotiations with GM lead to the result, and doubts about the financial capacity of the Turks are also voiced. Too little is known about the background of the investors and the obvious proximity to Victor Muller brings no confidence bonus. In Sweden, it is expected that the Turks will leave the bidding race soon.

As if that wasn't enough, there are initial details on the position of Mahindra & Mahindra. Circles report that the Indians are only planning to build electric vehicles in Sweden and are looking for a European location for small numbers. Yesterday that didn't sound very credible to me, but has now been confirmed by the second party. If that were the Indian plan, it would be a disappointment. As I said, the source of this message is credible, but it can still be targeted disinformation.

This would give us, alongside BAIC / Panasonic, a second producer of e-vehicles. Both want to take over only a few, few parts of the business. After the low Youngman offer, which makes no sense, the planning to break up the Saab Group comes to the fore. Volvo wants to buy factory equipment, test benches and laboratories. Semcon also and delivers a bidding dispute with Volvo. Third parties want to set up a supplier company with Saab Know How at the factory.

Yet it is not so far. Youngman is playing poker, that's my assessment. The Chinese need the complete work, for parts every crown would be a crown too much. Packing the PhoeniX platform and getting it done in China is unrealistic, lacking know-how, personnel, facilities. There are only two options for Youngman. Put more money on the table or get on the plane. Incidentally, the amount expected by the administrators is much higher than the current offer.

It may also be that we experience a surprise in the next 10 weeks. Our bidder, who for good reasons insists on anonymity, could be the winner. He works very professionally in the background, as I expected. Confidentiality has also been agreed with the administrators of this party, unlike Brightwell Holding. The award might be the best of all possibilities for Trollhättan and the brand. For the brand, there are long-term undreamt-of possibilities. The tools and test laboratories could gladly take over Volvo. Because it would someday in summer or fall, the dredgers in the stable bake roll and there would be brisk construction activity. New facilities, only the finest would arise. An investment program already exists, because the demands are high. There would also be enough space around the factory.

The bankruptcy trustees will drag out the process, my feeling says. Because every day more, is a big plus in the account. Youngman has been unhappy from the current perspective. Presenting an offer that can not be denied would have put pressure on the administrators. You have not done that for whatever reason.

Let's stay relaxed! Despite good contacts, we know too little about the current process. Surprises are possible. It is a huge puzzle in which only a few parts are suitable. There is a lot of work going on behind the scenes and there have been a number of hurdles over the past week. Saab restarts, first results of the highly professional organization process become visible. The development is positive for Saab and for survival. Maybe we can write about it sometime soon.

As always, we stay tuned. Updates follow.

Text: tom@saabblog.net

17 thoughts on "Saab future in Sweden - update on development"

  • Hello Tom really a big thank you for your great coverage :-)

    I can only agree with Detlef. It is partly really just like a Feierabendserie, in which the plot of 2 parts is divided into 20 parts, so it should be seemingly exciting :-(

    When a tension lasts too long, it usually ends in resignation and that is definitely not a positive state, nor does it thrive on good ideas, and then somebody buys such a D-car out of despair!

    Fortunately, over the weekend I was able to slog around with my 9-5 Vector TiD and consume the whole thing with a little more distance. Nevertheless, I have to admit that every day I am always waiting for a redeeming message. But I am also happy if this salvation report is only published if it is safe. Fakes we have already experienced enough in the last few months and the disappointment is even worse.

    In this sense, I hope for the good and the support from above!

    There Grxüessli McLee

  • In the absence of mass, they should have refused - unfortunately Saab still has some potential so that they can enrich themselves wonderfully - the Swedish procedure is sad because it intervenes much too late and then does not have a substantial effect.

  • There he is again, the great stranger ... what does Wikipedia actually say about it:

    “Nowadays, cliffhanger is mainly associated with television series, soap operas or, rarely, with planned movies. The term stands for the open outcome of an episode at its peak. The next episode answers the progress of the plot. "

    I'm looking forward to the next episode.

  • What would really interest me: Why does Tom write that we might experience a surprise in the next 10 weeks (!?) (From the great stranger)… ..

    Why is this group not outing itself as quickly as possible and could thus keep some of the SAAB specialists in Trollhättan? It is well known that the further passage of time is counterproductive and also harbors the risk that some dealers around the world will leave - not to mention the customers.

    In short, this “breathlessness” doesn't reveal itself to me in any way - can anyone help?

    DR

  • It would be a shame, if there is no rescue close by. Especially now, where with the 9-5 II despite many GM parts a super car was built. On the subject of Bavaria in winter the Aero with all-wheel stuck on the snow.

    I agree with God! Save one of the last individualist brands!

    Best regards,
    to all compassionate ones in the hope
    to a positive future and the realization
    great new cars

  • Very well written. Very honest. Here on saabblog.net you can always find something that is relevant and not as many guesses as on some other big Saab blogs. That's why it's my favorite blog. Thanks Tom!

  • Hello Klaus, I can not express myself better. You just tell me about the 100% from the soul. All Saab friends a nice evening.

  • Whenever I read here I bite in despair in the table during the first paragraphs. Then comes again the topic of the interested party X and I bite with curiosity in the table
    Either way, my nervous costume does not keep up with the drama. In April, the result should be known, right? No matter in which direction it should go.

    Oh yes, thank you Tom! You really hold the flag up here.

  • You get head and heartache when you have been fighting for survival for months from our top brand
    followed.

    Nobody, but no one really can tell me, that everything is done in accordance with the rules. I believe
    soon enough that Saab is intentionally being broken. But the gentlemen administrators can then
    say they did all sorts anyway. They are sure to get their money.
    Dear God, please do justice.

    Greetings to all Saab fans.

  • When reading the article you can literally feel the "rock in the surf" - even if the waves are lapping higher and higher. Thanks, Tom!

  • Hello Pussies, at http://www.bca-europe.com until 07.02. nice Saab`s offered. Maybe something for the new year…. And spare parts are currently no problem for my AERO 2008, my dealer told me!
    gruß
    HJ

  • I'm still hopefully waiting for a solution that will make the 9-5 II SC possible… .. The 9-5 II fits and is nice but a station wagon is more practical. Otherwise, the V 2 successor or the 70d is due in 530 years, although the Bavarians are worthless in the snow - and that is central for someone with home St.M. These rear-wheel drive D cars are always collected and dismantled on Julier …… .. Compliments to blogger Tom. I look impatiently several times a day.

  • This uncertainty promotes stomach ulcers!

  • I think it works with spare parts. I had my spoiler broken on my 9.3 Vector (built in 2004 last week) and got a new one in 5 days. I even could choose if I wanted the same or the one from the Aero even about 50 Euro cheaper. The Aero's off and looks great.
    Tom, your message today is more than hopeful of course, sounds more and more for partial sale, except the big unknown. Stay tuned, we need the information.
    Have a nice evening.

  • Who knows, Youngman had announced a lot, but you can check first what the others offer to refill if necessary.

    By the way, is there anything new about the spare parts business? My SAAB has blessed the time and a replacement is needed; However, I am a little unsure about the spare parts supply ...

  • Will the bankruptcy trustees actually be paid if the company runs out of substance in the meantime? If so, then you should definitely not hesitate too long. Is there a rejection or abortion of bankruptcy / reconstruction proceedings in Sweden for lack of assets?

    The description of the stealth bidder's plans definitely sounds extremely good - almost too good to enter ...

  • Youngman has already clocked wrong times and I can not shake the feeling that they can not finance the investment and the interim financing of the current (medium-loss) operation. In my opinion, the Chinese have completely misjudged the situation. One should not underestimate the Chinese on the other side. But YM is still the threshold of the Chinese government for such a deal.
    Only electric vehicles, if necessary with range extender, is very bold and practicable only in a few markets. The Saab brand and global dealer chain would not be revivable. If this really is the goal of Mahindra, then this is either a transitional plan for a GM IP free time until Phoenix or Mahindra was misjudged (projection Tata on Mahidra). But let's have a look.
    To Brightwell and the assessment I can only fully agree.

    A smashing would be heavenly. Suppliers could then not offset any compensation for losses with follow-up orders.

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