Saabs technical director jumps ship to Volvo
In case anyone has forgotten, Saab filed for bankruptcy protection on December 19th, 2011. The company was trying to secure financing from Youngman Lotus and a Chinese bank, so it might survive. However, GM blocked the deal at the last minute. GM still owns some technology licenses that Saab has. GM blocked the deal, because they feared the technology would go to the Chinese.
Mr. Fägerhag deciding to leave the Swedish automobile company is not widely seen as a great omen for Saab. He was instrumental and mainly responsible for the development of the Phoneix platform, which is Saab's next-generation platform. If any company is going to buy Saab, the Phoenix platform is probably what they are interested in for developing cars in the near future.
Dagens Industri, a Swedish financial newspaper, reports that Fägerhag will start at Volvo as early as sometime next week. “I have done what I have been asked to do, to create a new platform-strategy. There is a lot of competence still left in Saab. I’m not a key factor to if Saab can restart or not.” said Mats Fägerhag.