Jan Åke Jonsson On Possible Reconstruction Outcomes

Posted on 06. Mar, 2009 by Ryan in 2000-2009

There was an article that came out earlier this week from Sweden’s Alt Om Motor that involved an interview with Saab Automobile AB’s CEO, Jan Ã…ke Jonsson.

In this interview, he discussed what GM indicated back on the February 17th press conference. He also provided possible scenarios when Saab Automobile’s reconstruction path completes on May 20th, assuming it crosses the March 31st deadline for GM, (when they return to the U.S. Congress to ask for more taxpayer money from the U.S. Treasury.

It is an interesting read, even though it was loosely translated:

When General Motors February 17, presented the plan to let go of Saab, by the end of the year reflected the delay of Saab dealers. Without support from GM saw Saab’s management no alternative but to apply for reorganization.

A similar procedure for General Motors, the GM leadership fought against tooth and nail. The reason is said to be that a company enters an uncertain period of time lose the trust of customers.

That is exactly what has happened to Saab.

- The decline is mainly due to the concern, “says Jan Ã…ke Jonsson, when he meets TT on the Motor Show in Geneva on Tuesday.

Saab Head, who admirably maintains that everything will be all right, think, or rather hope that soon the dust settles.

Most reconstructions usually involve staff reductions for the company to reduce its costs. But Jan Ã…ke Jonsson wants to reassure the nearly 4000 employees.

- Our plan is to finish 9-5, 9-4 X and develop a new 9-3. Everything but 9-4 X will we build in Trollhättan, which means that if we come out of this as we thought we need more people. It is about a thousand in production and 350 engineers, “he says.

But there’s a big if. The plan must be funded. It is not yet. It is based on the State agrees to provide loan guarantees for loans of the European Investment Bank. To do that requires the government “a clear picture of ownership, as Jan Ã…ke Jonsson says.

He wants to reach a solution in the months that reconstruction may run in the first instance. Otherwise, he and even the word bankruptcy in his mouth.

- On May 20 is the reconstruction of the current application end. Either we need to apply for an extension, have a solution, or file for bankruptcy, “says Jan Ã…ke Jonsson.

TT: Would not it be GM, which sells its subsidiary and not you who are out and locate buyers for yourselves?

- Yes, that one might think. But I think it is good that we are driving this process, because it gives us power. Then there is the GM who takes the decision.

Jan Ã…ke Jonsson was a bit outside of GM’s Europe chief Carl-Peter Forster said in GM’s well-attended press conference at the Motor Show. It was dominated by the world premiere of Opel Amper, the car that has a better battery that is 60 kilometers run and where the engine then go ahead and continue to charge the battery.

The speculation about Saab to dial in to the electrical path to save the company.

- We have access to this technology and hybrids are in our plan. But first we must develop the other cars, “says Jan Ã…ke Jonsson

Tags: Alt Om Motor, Carl-Peter Forster, CEO, General Motors, Geneva, Investment Bank, Jan Åke Jonsson, Saab Automobile AB, U.S. Congress, U.S. Treasury