A Saab Story?
Saab Automobile was founded in Sweden in 1947. Originally, it was the auto manufacturing division of Swedish Aeroplane Limited, now an aerospace and defense company. The auto division was sold in 1990 to General Motors who, in turn, sold it to Spyker Cars N.V. in 2010 as part of their brand shedding. Spyker, now renamed Swedish Automobile, is a Dutch company that was founded in 1999 to design and manufacture supercars but itself is in bankruptcy with an uncertain future. Its collapse took the Saab brand down with it.
Saab’s future is tied to disentanglement from Spyker and recapitalization by another owner. In 2011 Chinese companies Pang Da Automobile Trade and Zhejiang Youngman Lotus Automobile attempted to buy Saab but the purchase was blocked by former owner GM. They opposed the transfer of GM technology to any Chinese company. GM has retained the licensing rights to the technology and has preference shares in Saab and thus has a say over the next steps.