Chinese Bank May Come To Saab’s Rescue

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Chinese Bank May Come To Saab’s Rescue
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Saab’s sob story saga might be coming to an end, though the information surrounding their pending acquisition is murky at best. Rumors swirled quickly around the media yesterday that the Bank of China, fourth-largest by market value had planned to acquire just under 50 percent of the company. Those reports are now being corrected— it’s a bank in… Continue Reading...

GM Threatens to Halt 9-4X Production for Saab Pending Sale to Chinese Automakers

GM Threatens to Halt 9-4X Production for Saab Pending Sale to Chinese Automakers
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General Motors has announced that it will cut ties with Saab over its pending sale to two Chinese automakers. The threat has some very real consequences with GM stating it would cease manufacturing of the 9-4X crossover for Saab, as well as stop delivery of the parts it currently supplies the Swedish automaker with. “Although… Continue Reading...

Saab to Apply for Creditor Protection as Bankruptcy Looms Yet Again

Saab to Apply for Creditor Protection as Bankruptcy Looms Yet Again
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Debt ridden Saab is to apply for court protection from its creditors in a bid to stave off bankruptcy get again. For months, the automaker has struggled to raise finances to pay off suppliers, and as a result, has halted production. Saab was rescued from bankruptcy last year by Dutch owner, Swedish Automobile (formerly Spyker),… Continue Reading...