Thursday, January 22, 2009
SAAB could run separately from GM
Saab could run as a separate business in a move by General Motors to make the brand more attractive to potential buyers.
“Saab has been negotiating with GM and the Swedish government about becoming a more independent company, initially as part of GM,” a GM source said.
It means the Swedish carmaker would take control of its decision-making and finances, reported Automotive News Europe.
GM executives will decide Saab’s future before February 17, when they submit a business plan to the US government.
The sale of Saab has been part of GM’s strategic review which started in December.
Last week at the Detroit auto show, GM vice-chairman Bob Lutz said: “Frankly, they’ve [Saab] have been on GM life support.”
DATED: 22.01.09
FEED: AM
“Saab has been negotiating with GM and the Swedish government about becoming a more independent company, initially as part of GM,” a GM source said.
It means the Swedish carmaker would take control of its decision-making and finances, reported Automotive News Europe.
GM executives will decide Saab’s future before February 17, when they submit a business plan to the US government.
The sale of Saab has been part of GM’s strategic review which started in December.
Last week at the Detroit auto show, GM vice-chairman Bob Lutz said: “Frankly, they’ve [Saab] have been on GM life support.”
DATED: 22.01.09
FEED: AM
