Yesterday, Koenigsegg pulled out of the deal to purchase Swedish automaker Saab from GM. A Swedish government official today said that General Motors still hopes that it may be able to sell the struggling Swedish company.
“I talked to GM last night and my impression is that they have not given up hope,” said Joran Hagglund, state secretary at Sweden’s Industry Ministry.
As of now, Saab’s only hope for survival is a sale, as the Swedish government ruled out a state bailout for the company. No other bidders have yet emerged for the brand, leaving GM with the option to restart the sale process or wind the brand down. Even Swedish Enterprise Minister Maud Olofsson acknowledged that finding another buyer for Saab would be a race against time.
“For every day that passes the challenge gets bigger and bigger,” said Olofsson.
Chinese automaker BAIC, which had partnered with Koenigsegg to acquire Saab, said it was looking at its options. The company reiterated its comments that it would like to become more international yesterday, but analysts say it is unlikely to buy the entirety of Saab on its own.
Source: Automotive News