Great Wall Denies Talks With Saab, Swedish Automaker's Future Uncertain
It might start to be a real sob story over at Saab, if the Swedish automaker can’t find a partner to help finance operations and help get production restarted. News of a most recent deal with Chinese automaker Great Wall might be little more than a rumor, with the Associated Press now reporting a Great Wall representative is denying any talks between the two automakers.
Last week Saab announced a deal with Hawtai Motor Group, another Chinese automaker, with a $222 million investment. Several days later Saab said it was “forced to terminate” the contract because certain Hawtai investors were unwilling to commit. The two automakers are continuing to hold talks, although not exclusively.
Saab and Spyker CEO Victor Muller is currently in China wooing potential investors, a list that has now grown to include China Youngman Automobile Group, Co., which currently imports Lotus vehicles into China.
With severe clashflow problems, Saab was forced to halt production on April 6th and has been eagerly pursuing financial suitors since then in an effort to get the assembly line back up and running.
[Source: DetroitNews]
With AutoGuide from its launch, Colum previously acted as Editor-in-Chief of Modified Luxury & Exotics magazine where he became a certifiable car snob driving supercars like the Koenigsegg CCX and racing down the autobahn in anything over 500 hp. He has won numerous automotive journalism awards including the Best Video Journalism Award in 2014 and 2015 from the Automotive Journalists Association of Canada (AJAC). Colum founded Geared Content Studios, VerticalScope's in-house branded content division and works to find ways to integrate brands organically into content.
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