Saab Automobile To Be Independent By January 1st, 2010

Posted on 18. Feb, 2009 by Ryan in 2000-2009

As mentioned tonight by General Motors during the Press Conference as also indicated in the GM Business Plan, both GM & Saab want the subsidiary Saab Automobile AB to be independent by January 1st, 2010.

Saab Automobile now need to, before March 31st, ensure that the Swedish Government & General Motors manage to arrange a financial deal that that allows for them to be positioned as a separate business unit by receiving funding from both the Swedish Government ($400 Million) and the European Investment Bank ($600 Million), totalling $1 Billion dollars.

If this works out then, Saab Automobile AB as a separate business unit, has effectively 9-months to find a buyer so that not only are they financially independent, they are organizationally independent of General Motors as well, by January 1st, 2010.

Remember, it was Saab Automobile AB’s President, Jan-Ake Jonsson who said “that in order for Saab to be successful, they need to be independent from General Motors”.

I hope this process goes well between now and March 31st in terms of funding and making a deal with General Motors for that path to independence to become a reality.

Tags: General Motors, Investment Bank, Jan Åke Jonsson, President, Saab Automobile AB, Swedish Government, Swedish Government & General Motors, USD