Tag Archives: Koenigsegg Group AB

Beijing Auto to immediately start integrating Saab designs

Posted on 18. Dec, 2009 by .

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Reuters reports that Beijing Auto Industrial Company (BAIC) will immediately start integrating Saab designs.

This is very upsetting to say the least that there is someone benefiting from all of this.

Beijing Auto to immediately start integrating Saab designs

December 18, 2009 11:46 CET

BEIJING (Reuters) — Beijing Automotive Industry Holding Co. said on Friday it will immediately start integrating its newly acquired technology from General Motors Co.’s Saab unit into its vehicles.

BAIC, China’s fifth-largest automaker, plans to start production of its Saab-based own brand of cars as soon as 2011.

BAIC recently acquired the rights to vehicle platforms from Saab for an undisclosed sum. One newspaper report said that BAIC paid $197 million for the assets, which include the intellectual property and tooling for the current-generation Saab 9-5 and some IP from the 9-3.

The purchase was put together in just two weeks, after a larger deal unravelled that would have seen a group led by Sweden’s Koenigsegg Group AB buy all of Saab. BAIC had been a part of Koenigsegg’s bid.

“We will start integrating right away,” Gu Lei, president of BAIC’s technology center, told reporters at a news conference. He added that commercial production for vehicles with the newly acquired technology could start as soon as mid-2011.
[…]

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GM Posts New Statement Regarding Saab Negotiations

Posted on 09. Dec, 2009 by .

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Exactly a week ago, GM released a statement regarding Saab negotiations. Today, they have posted a new statement indicating that there have been inquiries made to them expressing interest in Saab’s assets both in part and in full.

Here is their updated statement:

December 8th, 2009

As we said last week, we have and continue to receive expressions of interest in Saab since negotiations concluded with Koenigsegg Group AB. These latest inquiries range from interest in part of Saab’s assets to interest in all of Saab’s assets. Since these discussions are confidential and ongoing, we will have no further comment unless or until a decision is reached and the parties are ready to announce.

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Tom Wilkinson
Tel: 313-667-0366
Mobile: 313-378-6233
tom.wilkinson@gm.com

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GM Releases Statement Regarding Saab Negotiations

Posted on 01. Dec, 2009 by .

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GM has just released an official statement regarding the Saab negotiations at this time. This confirms that GM will not keep Saab if no new buyer has sealed the deal by the end of the month, true to their original statement made in February at the press conference.

GM Statement Regarding Saab Negotiations

DETROIT ? The GM Board of Directors has received expressions of interest in Saab since the conclusion of negotiations with Koenigsegg Group AB. The Board will evaluate potential bids between now and the end of December. At that time, we will determine whether a suitable arrangement for Saab exists. If not, we will begin an orderly wind down of the global Saab business at that time.

Due to non-disclosure agreements, we will not confirm or comment on any potential transactions or other matters unless, and until, we determine that disclosure is appropriate.

Contacts:
Tom Wilkinson
GM Communications
313-378-6233 (mobile)
313-667-0366 (office)
tom.wilkinson@gm.com

Eric Geers
Saab Communications
+46 703 205490 (mobile)
+46 520 85110 (office)
eric.geers@gm.com

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Beijing Automotive Plans to ‘Move Fast’ on GM’s Saab

Posted on 30. Nov, 2009 by .

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Bloomberg reports Beijing Automotive Industry Holding Co. (BAIC), will “move fast” on GM’s Saab.

BAIC, who previously entered into agreement with the former candidate for Saab, still plan on continuing the old Saab 9-5 production in China which will require that the dealerships to double.

When asked about whether BAIC would want to acquire Saab by itself or as a consortium, the CEO Wang Dazong responded by saying “stay tuned”.

Here’s the report below:

By Bloomberg News

Nov. 30 (Bloomberg) — Beijing Automotive Industry Holding Co. said it will “move fast” on General Motors Co.’s Saab unit after its partner pulled out of making a bid for the Swedish automaker.

“Stay tuned,” Beijing Auto President Wang Dazong told reporters today in Nanjing, China, when asked whether the company would bid alone for Saab or as part of a group. The automaker is considering an offer, he reiterated.

Wang declined to say whether the company would submit a Saab bid before Detroit-based GM’s board discusses the unit’s future at a meeting tomorrow. Koenigsegg Group AB walked away from a Saab deal, backed by Beijing Auto, last week.

“I can’t control GM’s timetable,” Wang said. “We want to move fast.”

Beijing Auto, Merbanco Inc. and Renco Group Inc. have all made approaches about Saab, two people familiar with the situation said last week. Wang declined to say whether Beijing Auto has made an approach.

GM decided to dispose of Saab in February as the U.S. automaker undergoes bankruptcy reorganization. The Swedish unit has been unprofitable for most of the two decades GM has owned it. Saab sold fewer than 100,000 vehicles worldwide last year.

For Related News and Information: Top transportation stories: TOP TRN GM revenue breakdown: GM US CN PGEO China auto news: TNI CHINA AUT
Last Updated: November 29, 2009 21:52 EST

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Koenigsegg Group AB Terminates Agreement For Purchase of Saab

Posted on 24. Nov, 2009 by .

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2009-11-24

CONTACTS

Koenigsegg Group AB Terminates Agreement For Purchase of Saab

DETROIT — General Motors confirmed today that the proposed sale of its Saab subsidiary to Koenigsegg Group AB was terminated at the discretion of the buyer.

“We’re obviously very disappointed with the decision to pull out of the Saab purchase,” said GM President and CEO, Fritz Henderson. “Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week.”
[…]

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New Salem Saab Acquires Saab History Model Collection

Posted on 16. Nov, 2009 by .

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nss_stay.jpg

New Salem Saab, which has recently been selected as one of the 137 Saab dealerships in the United States to continue with the new Saab Cars North America, has acquired Saab History’s scale model collection.

You may recall that Saab History traveled with New Salem Saab to visit a Koenigsegg dealer in New York recently. This collection of Saab scale cars not only includes just about every model in the lineage, but it also has Koenigsegg CCX to appropriately round out the collection.

Here’s a quote by New Salem Saab’s President, Darryl Carl.

“New Salem Saab finds a parallel in being the second oldest continual exclusive Saab dealer in the States and having a complete collection of Saab models encompassing the same time period.”

“We intent on rallying through this inclimate weather into the new beginning and resurgence with the ownership of Koenigsegg Group AB”

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Sale Of Saab Unit By GM, Unaffected By Opel U-Turn

Posted on 04. Nov, 2009 by .

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The Wall Street Journal has reported via Saab Automobile’s Eric Geers, that the sale of Saab Automobile by GM to the Koenigsegg Group remains and is unaffected by the recent Opel developments.

GM’s Sale Of Saab Unit Unaffected By Opel U-Turn

STOCKHOLM (Dow Jones)–General Motors Co. remains committed to selling its Saab Automobile unit to Sweden’s Koenigsegg Group AB, Saab spokesman Eric Geers told Dow Jones Wednesday.

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The Selection & Assignment Process Of Saab Dealerships

Posted on 29. Sep, 2009 by .

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Photo Credit: Saab Automobile USA

Saab History has recently learned that there will be a dealership “selection and assignment” process that will take place at some point if not already for the existing Saab dealerships in the United States. I thought that any Saab dealership that made it this far, would surely be included in the new Saab Cars North America, but maybe not?

I should say that the dealership supporters of Saab History, all look forward to being a part of the new Saab Cars North America program. These dealerships have gone above and beyond and have done their very best to represent what a true Saab dealership should be in terms of their presence, their knowledge, customer base and of course sales & service.

While we don’t know what and how this dealership selection and assignment process will be (I’m sure someone does), we do know that there are many good dealerships still today that have done their very best and should be considered and included, moving forward.

If you are reading this and have an idea about what this “selection & assignment” process criteria consists of, please contact me so we can learn about it.

Here’s a quote sent to me earlier that outlines this process for dealerships in the United States.

“Going forward, we will keep you informed on activities and developments related to the sale of Saab to Koenigsegg Group AB, including the selection and assignment of dealer agreements to the new Saab organization. Thanks for all your help and cooperation. We will continue to work very hard to make Saab’s rebirth a complete success.”

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