The new Saab 9-5 2010
With the Koenigsegg deal to buy Saab dead there appear to be two potential suitors for the ailing Swedish car maker – Chinese BAIC and US Merbanco.
With the sorry end to Koenigesgg buying Saab this week it was starting to look as if Saab may go the way of GM’s other brand that failed to find a buyer – Saturn – and disappear in to automotive oblivion. The Swedish Government has said that it won’t bail out Saab without a new private investor surfacing and GM are on record as saying that they would close Saab down if no buyer were in place by the end of 2009.
But it’s now looking as if there may be a glimmer of light on the horizon. BAIC – Chinese Motor Company and minority shareholder in the Koenigesgg bid – is thought to be considering a go-alone bid for the Swedish car maker. BAIC are already in the process of shipping the tooling for the old Saab 9-5 to China to produce it there, and there were plans in place to make the new Saab 9-5 2010 model in China if the Koenigesegg deal went through.
But there are obstacles to the BAIC deal. It is being reported in the Swedish press that fears of the Chinese getting their hands on GM technology and platforms was one of the reasons the Kienigesegg deal fell apart with BAIC on board. That factor would play an even greater part in a go alone deal by BAIC.
The other bidder to surface – or rather re-surface – is Merbanco, a Wyoming-based merchant bank which was one of the list of bidders in the frame before GM opted to pursue the Koenigsegg deal. So they’ve obviously already done their homework and could be a credible option.
One plus for any potential buyer is that State aid in the form of EIB loan guarantes would apparently still be in place for any new buyer.
There’s still a chance Saab could survive.
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