egmCarTech

With the sale of Saab to Dutch sports-car manufacturer Spyker complete, the company is starting to come back into its own, as they are in the process of establishing themselves in a location away from GM headquarters and assembling management teams for the U.S. and Europe.
The company will make its new home in Royal Oak, [...]

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Earlier this year we learned that Saab’s new owner Spyker has plans to build the Aero X Concept if resources become available.
Spyker CEO Victor Muller said that he loved the car and that it “deserves to be built.”
“It’s got true ‘Saabishness’ in it,” said Muller. “It’s one of the best designs of the past five [...]

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Last month, after announcing that it will officially purchase Saab from General Motors, Spyker release a short press release detailing what we can expect from the Swedish duo – in terms of products. Besides the 2010 Saab 9-5 and the upcoming 9-4X, Spyker execs said that they are considering a small model, known to many [...]

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Spyker and General Motors announced today that they have finalized the deal for Spyker to purchase the Saab brand.
“Going forward, Saab and Spyker will operate under the Spyker umbrella, and Spyker will assume responsibility for Saab operations,” GM said in a statement. “The previously announced wind down of Saab operations has ended.”
“Today’s announcement is great [...]

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As predicted by many industry analysts, Spyker is going to need a serious infusion of cash if they expect to make their acquisition of Saab a profitable move. In order to gain profitability, the Dutch custom-car builder will have to double Saab’s production, roll out new models, and build a vast network through which [...]

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The EIB today approved a loan to Saab for €400 million ($545 million USD), Spyker said today.
“The EIB has confirmed the authorisation to conclude the EUR 400 million loan to SAAB Automobile AB in accordance with the terms and conditions approved by the Board of Directors on 21 October 2009 and to conclude the guarantee [...]

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Spyker Cars NV announced today that it has entered into a $25 million convertible loan agreement with an investment company owned by Heerema Holding Company Inc.
“The USD 25 million loan has a 2 year term, an interest of Euribor + 10% and is convertible into shares at EUR 4 each,” Spyker said in a statement. [...]

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After Spyker announced last week that it will take Saab off GM’s hands, many industry analysts, even Fiat’s CEO Sergio Marchionne, expressed skepticism about the bid. Hoping to prove skeptics wrong, Spyker today released a massive press release further detailing its acquisition of Saab.
Here are some interesting highlights from Spyker’s press release:

Saab will be a [...]

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Many in the auto industry, including Fiat S.p.A. CEO Sergio Marchionne have expressed skepticism about the audacious bid by Spyker Cars to buy Saab. Marchionne questioned the profit potential of serving a niche auto market, as Spyker is now in the position to do. “Marginal players will continue to be marginalized. We cannot [...]

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Now that GM has agreed to sell Saab to Spyker Cars, what is the next car to come out from the Swedish brand? According to John Smith, GM vice president of global planning and alliances, the new 9-5 flagship sedan will begin volume production in April with U.S. sales to begin in the second quarter.
Smith [...]

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