The future of Swedish auto-brand Saab is in danger as Koenigsegg Automotive AB withdrew from a deal to buy the GM brand that has been losing money. Saab officials, including CEO Jan Ake Jonsson, came to Detroit on Monday to discuss the fate of the brand with GM’s board.
Other bidders have reportedly showed interest in Saab including, Beijing Automotive Industry Holding Corp., U.S. private equity firm Renco Group Inc., and U.S. investment company Merbanco Inc, reports Automotive News.
Beijing Auto was originally partnered in Koenigsegg’s bid for Saab, and has said that it could possibly be interested in still obtaining the brand. GM’s board is expected to discuss the future of Saab in a meeting tomorrow, and a spokeswoman for Saab has mentioned Jonsson would meet with GM management and potential buyers while in Detroit.
A senior official from Sweden’s Ministry of Enterprise has also traveled to Detroit to discuss with GM possible Swedish government aid for Saab.
– By: Stephen Calogera