Tag Archives: car industry

Saab Automobile AB Partners With Swedish Entertainer Tomas Ledin For Summer Tour 2009

Posted on 03. Jun, 2009 by .

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Saab Automobile’s new blog has mentioned that Saab & Volvo will be partnering with a famous Swedish entertainer, Tomas Ledin on tour this summer.

The tour is anticipated to bring around some positive excitement for the newly independent company.

The Swedish entertainer Tomas Ledin has initiated a partnership together with Volvo and Saab for his summer tour 2009.

Tomas Ledin wants to support the Swedish car industry and highlight the fact: When things are going well for Swedish automotive industry, it is going well for Sweden.

Saab and Volvo will together have events and activities in connection to the shows, it will also be 2 cars on display, one from each brand.

Tomas Ledin, Volvo and Saab. All three, strong brands with the unique Swedish DNA!

More info about the tour at tomasledin.com.

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Saab Automobile AB Ready For Visits By Potential Buyer Visits This Week

Posted on 06. Apr, 2009 by .

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Trollhattan, Sweden’s TTELA indicates that Saab Automobile is ready for visits of up to 10 potential buyers of the Swedish based car company.

There should be more information regarding this creditors meeting on Monday, April 6th at the town hall with the Vanersborg court.

Here is their coverage translated by google.

Saab is gearing up for visit of potential buyers.

There are about 10 potential buyers and in the coming weeks most of them will visit Saab to have a look at the plant.

– We want to make a good impression, says Eric Geers, Saab Exec. Director
Communications

According to him no dates are decided upon yet but we can assume that there will be several visits in the coming weeks.

And even if Eric Geers does not want to comment on who the potential investors are, it appears that he is ready to receive both Swedish and foreign investors.

As TTELA has informed previously, it is not only investors associated with the car industry that have shown interest.

The visits are the next logical step to a possible sale of Saab Automobile. Guy Lofalk, from the reconstruction group informed TTELA last week that extensive information about Saab has already been handed over to the the highest ranked potential investors.

Having in mind that the potential investors will visit Saab there is plenty of activity at Saab. The manufacturing area and offices will be inspected and there will be a presentation of the company for the potential investors.

– We want to do a good impression and therefore we are carefully studying our business plan and preparing the presentation of our business says Eric Geers.

He compares the process, from the potential investors point of view, to that of buying a house.

– Imagine that you want to buy a house. You want all the information available so you can make a decision, says Eric Geers.

But are you, just like buying a house, cleaning and dressing things up just to make a extra good impression?

– No, that is not what this is about. We know what we have and we believe in our product and the business plan that we want to sell, says Eric Geers.

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Sweden’s Maud Oloffson Indicates Funding Will Be Available, If Saab Transitions Into Wind Industry

Posted on 12. Mar, 2009 by .

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Photo Credit: Aaron Gilbert / NWSOC

A writer on Green Tech Media recently picked up a dialog from Sweden’s Maud Olofsson, regarding her interest in ultimately seeing Saab Automobile contribute to the wind turbine industry.

As we may know, Saab Automobile have been collaborating with Volvo and Sweden’s primary energy provider, Vattenfall for some time now on a hybrid vehicle and quite possibly, other developments. Could there be future developments on energy that we are unaware of too?

We know that spending resources on wind turbine energy is not new for Saab, as their former counterparts, SCANIA collaborated on this project back in 1975 when they created one of the first wind turbines in Sweden.

The question is, if GM go bankrupt on March 31st, 2009, and Saab also does not find an owner by then, it seems that instead going out of business, the only way the Swedish Government will fund Saab, is to aid them in transitioning their business to the wind industry.

It’s clear that Saab literally know just about everything when it comes to turbines from their airplane industry long ago to turbochargers that came about in late seventies, could wind turbines be the last opportunity for them if all else fails? At least with that, we know the Swedish Government will support them if no other owner comes through to support their current automobile business.

One thing is for sure, if that ever did happen, it would be a fast-tracked way to be in line with Sweden’s mission to be off of fossil fuels by 2020 completely (11 years from now).

Airplanes->Automobiles->Wind Turbines?

Here is the article below for your reference:

Sweden to Saab: Merge to Wind Power or Shut Down

Swedish car company Saab received a tough message from the Swedish Minister of Trade: change your business and start producing wind power towers and turbines.
by: Fredrik Wass

Bullet Arrow March 4, 2009

Swedish car company Saab, a subsidiary of the American company General Motors, could change its business and go into producing wind power towers and turbines. That is the message from Swedish trade minister Maud Olofsson, after refusing a financial support package to the Swedish car manufacturer, now on the brink of shutdown.

The message from the Swedish government should be considered in light of the country’s ambition to make Sweden a greentech export success story, even as its car industry falters. For example, Swedish power company Vattenfall, owned by the Swedish government, is already Europe’s largest power supplier from wind power sources since it acquired the Dutch firm Nuon last week.

Greentech exports now represent only 2 percent Sweden’s total export business, a low number that the government is trying to increase. The idea that Saab, which also manufacturers airplanes, could transfer its operations into wind power system is not at all unreasonable, claims Swedish industrial economics professor Staffan Laestadius, talking to the Swedish magazine Miljöaktuellt.

“Producing wind power is more realistic for Saab than ever being a profitable car manufacturer again. It is also substantially more desirable for Sweden,” he said.
[…]

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Saab Automobile AB CEO, Jan Åke Jonsson Says Three Months To Secure Buyer, Saab History Thinks Three Weeks

Posted on 03. Mar, 2009 by .

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Photo Credit: ERIK ABEL/Associated Press

Christiaan Hetzner at Reuters reports that Saab Automobile AB’s CEO, says that the company, working towards full independence from General Motors, is targeting three-months to find a buyer, since February 20th when they filed for reconstruction. This three-months of searching would result a deadline for May 20th, 2009.

This is all good and everything, but what if General Motors files for bankruptcy on March 31st, 2009? That is the second date that the U.S. Treasury needs to see some significant progress from the company. While just about all industry experts all over the globe believe that this is inevitable for the company given that more taxpayer money won’t solve their corporate culture, what would this mean for Saab Automobile? If GM does file for bankruptcy by the end of this month, would Saab Automobile’s factory suppliers still keep getting paid by GM or would those contracts be able to be broken?

I hope these 7-8 potential buyers come forward prior to March 31st (28 days from now). And when they come, they better be ready to go with cash in hand basically, for the Swedish Government to also respond with their EIB loan guarantees for Saab Automobile AB.

I personally think that three months to find a buyer is nice, but it may be unrealistic if GM files for bankruptcy, given that GM is effectively still making payments to suppliers, staff, personell, employees, etc (ie. keeping the factory moving, etc). GM however, tends to think they cannot afford to go into Bankruptcy citing it would cost them $100 Billion dollars.

In the meantime, here is the nicely written piece below from the Reuters interview at the recent Geneva Motor Show.

By Christiaan Hetzner

GENEVA (Reuters) – Swedish carmaker Saab (GM.N) is hoping to find a new investor within three months, promising profitability even with a volume of as little as 150,000 vehicles sold, its chief executive told Reuters in an interview.

Thanks to reallocating production of its 9-5 model sedan to Trollhattan, its plant should be utilized much more efficiently and far from cutting jobs, Jon-Ake Jonsson expects to add jobs in Sweden, where salary and wage costs are very competitive.

“In the next few days we will go out more actively and present our case to the ones (potential investors) who have been showing an interest as well as looking for new alternatives, scan the market,” he said on the sidelines of the Geneva auto show.

Jonsson said potential investors in Saab were from both inside and outside the car industry. He is working to find an ownership solution for Saab before the three-month reorganization deadline expires.
[…]

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