Property sales and leaseback, two labour-representative resignations from the board and a new 582-unit car order that will help pay June wages and suppliers are the latest developments in the Saab Saga. Earlier, Europe's association of automotive suppliers (CLEPA) called on the struggling automaker to voluntarily declare itself bankrupt to allow employees the chance to secure state aid. Is the end nigh nonetheless? All our coverage is here.
SWEDEN: Saab property sale cleared, new restart target
7 Jul 2011 | Graeme Roberts
Swedish Automobile (SWAN) said on Thursday Saab Automobile had obtained final approval from the EIB, the NDO and the Swedish government for the sale and lease back of the Saab property and targeted 9 August for a car production re-start.
SWEDEN: Debt Office to sit on first Saab Parts board meeting tomorrow
31 Jan 2012 | Simon Warburton
Sweden's National Debt Office (SNDO) is to sit on the board of Saab Automobile Parts for the first time tomorrow (1 February) as the State looks to secure its loan guarantee repayment.
SWEDEN: Volvo takes on 50 Saab engineers as it looks to boost EV sector
31 Jan 2012 | Simon Warburton
Volvo says it has recruited 50 engineers from Saab, with a further 50 being currently evaluated as redundant staff from the Trollhattan manufacturer look for alternative employment.
SWEDEN: Saab delays wages again
25 Aug 2011 | Graeme Roberts
Here we go again. After due forewarning, Saab owner Swedish Automobile confirmed August's wages for Saab's blue collar workers have been delayed and there is a risk white-collar employees will not receive salaries as planned on Friday.
SWEDEN: Saab warns of risk of delayed August wages
23 Aug 2011 | Dave Leggett
Beleaguered Saab has warned that there there is a risk of delayed payment of August wages to Saab Automobile employees.
US: Saab could announce EUR250m within fortnight: Endeavor Advisory
19 Aug 2011 | Simon Warburton
A New York investment firm taken on by Saab to help it out of its current cash predicament says between EUR250m (US$361m) and EUR350m financing could be announced within two weeks.
SWEDEN: Kongsberg Automotive could recover Saab debt next week
19 Aug 2011 | Simon Warburton
Kongsberg Automotive could be paid its outstanding debt from Saab as early as next week, following investigations by Sweden's debt enforcement agency.
SWEDEN: Saab hires investment group, confirms autumn Chinese aim
19 Aug 2011 | Simon Warburton
Saab has confirmed it has engaged Endeavour Advisory Group (EAG) in its quest to secure short-term financing and insists the deal with Chinese investors will happen this autumn.
COMMENT: Investors on the beach as Saab spins plates?
18 Aug 2011 | Simon Warburton
Time to take stock. Another breathless week for Saab has seen the vultures circle once again, but with a defiance that borders on heroic, the Swedish manufacturer is living to fight another day
SWEDEN: Saab fights back on chairman pay increase
18 Aug 2011 | Simon Warburton
Saab has hit back at television reports in Sweden commenting on a decision to award its parent board's chairman a EUR100,000 (US$144,000) pay increase.
SWEDEN: Shareholders denounce 500% increase for Saab parent chairman
18 Aug 2011 | Simon Warburton
Sweden's Shareholders Association (Aktiespararna) has slammed as "completely wrong" a decision by Saab parent Swedish Automobile (Swan) to award its chairman a massive pay increase of 500%.
SWEDEN: Missed Saab suppliers payment triggers debt agency action
17 Aug 2011 | Simon Warburton
Saab has missed the first deadline to pay outstanding money to suppliers, triggering an investigation that could see its bank accounts frozen
SWEDEN: Saab pulls out of Frankfurt as supplier debt takes centre stage
17 Aug 2011 | Simon Warburton
Saab has withdrawn from this year's IAA show in Frankfurt as Sweden's debt enforcement agency looks to have part of the automaker's substantial supplier debt settled today (17 August).
SWEDEN: Saab staring down frozen account barrel
16 Aug 2011 | Simon Warburton
Saab's current bank account could be frozen tomorrow (17 August) or this week as Sweden's debt enforcement agency seeks to recover outstanding money.
SWEDEN: Saab engineers stay despite pull of strong economy
16 Aug 2011 | Simon Warburton
Saab's main engineering union says the decision by its members to stay working at the beleaguered automaker despite more favourable employment opportunities elsewhere, shows the company has a viable future.
SWEDEN: Saab union confident it will receive August salary
15 Aug 2011 | Simon Warburton
One of Saab's major unions is confident its members will be paid for August following today's (15 August) announcement the automaker has issued a subscription notice for four million shares though GEM Global Yield Fund.
SWEDEN: Saab coy if new share deal is to pay August wages
15 Aug 2011 | Simon Warburton
Saab is declining to comment if today's (15 August) news that the further four million shares it has issued through through GEM Global Yield Fund will be used to pay August salaries.
SWEDEN: Europe supplier chief deplores partial Saab payment as "unacceptable"
11 Aug 2011 | Simon Warburton
Europe's automotive suppliers association (CLEPA) is deploring suggestions Saab has made partial payments to some component makers.
SWEDEN: Saab coy on major US investment talk
10 Aug 2011 | Simon Warburton
Saab is declining to confirm reports it has secured significant US investment following speculation in the Swedish media.
SWEDEN: Saab unable to pay suppliers' 10% as job cuts bite: FKG
10 Aug 2011 | Simon Warburton
Scandinavian supplier association FKG says Saab cannot pay its originally-mooted suggestion of 10% to suppliers in order to start clearing some of the significant debt it owes.
SWEDEN: Four Saab unions to meet Victor Muller today
10 Aug 2011 | Simon Warburton
Saab CEO Victor Muller is to meet his four unions later today (10 August) following last week's settlement of outstanding salaries to white-collar staff.
SWEDEN: Saab coy on August salary settlement ahead of plant meeting
5 Aug 2011 | Simon Warburton
Saab is keeping its cards close to its chest regarding the settlement of August salaries after confirming its white-collar staff were paid today (5 August) for last month's outstanding wages.
SWEDEN: Saab union finally paid but warns on looming August salaries
5 Aug 2011 | Simon Warburton
Saab's major white-collar union says its members have finally received July's wages in their accounts, although it is warning it will resend a letter to the automaker detailing wage arrears if this month's salaries are not forthcoming.
COMMENT: No Saab obituaries yet
4 Aug 2011 | Simon Warburton
No-one it seems wants to see Saab fail.
SWEDEN: Kongsberg Automotive still talking to Saab to recover money
3 Aug 2011 | Simon Warburton
Kongsberg Automotive says it is still in talks to recover debt owed by stricken Saab and appears to pour cold water on a previous attempt by the automaker to propose an initial 10% settlement.
SWEDEN: Saab engineering union flags August salary worries
3 Aug 2011 | Simon Warburton
Struggling Saab's engineering union is raising concerns about August salaries as its members continue to go unpaid for last month.
SWEDEN: Union waits to see wired cash as Saab raises wages hopes
3 Aug 2011 | Simon Warburton
Saab's major white-collar union says it will still send the shuttered automaker its formal letter detailing unpaid wages if salaries are not paid imminently, as hopes were raised July salaries might be settled.
SWEDEN: Saab could owe up to US$8.7m for July wages: Unionen
2 Aug 2011 | Simon Warburton
Total wages owed by Saab to its employees for July could be as much as SEK55m (US$8.7m) according to one of the automaker's major labour bodies.
SWEDEN: No indication yet if Saab can pay white collar August wages
2 Aug 2011 | Simon Warburton
Saab says there are "no indications" yet as to whether or not it will be able to pay its white collar workers for August, as its Trollhattan plant continues to remain shut pending a potential financial injection.
LUXEMBOURG: EIB would "welcome" any Saab move to pay off loan
2 Aug 2011 | Simon Warburton
Any plans by Saab to pay off its loan with the European Investment Bank (EIB) would be "welcome" says the Luxembourg-based financial operation.
SWEDEN: Expectations of Antonov Saab rescue "in vain": CLEPA chief
29 Jul 2011 | Simon Warburton
Europe's association of automotive suppliers' (CLEPA) CEO says if people were expecting Russian businessman Vladimir Antonov to rescue ailing Saab, they had been "waiting in vain."
SWEDEN: Saab cites "confusing" situation between Antonov and government
29 Jul 2011 | Simon Warburton
Saab has branded as "confusing" the apparent stand-off between the Swedish government and Vladimir Antonov following the European Investment Bank's (EIB) disclosure it would not allow the Russian businessman to be involved in the ownership structure.
SWEDEN: "We have not tried to fool Saab": Government
29 Jul 2011 | Simon Warburton
Sweden's Enterprise Ministry has reacted strongly to the widening crisis at Saab following comments made by Russian businessman Vladimir Antonov after the European Investment Bank (EIB) revealed it would not accept his ownership bid for the automaker.
SWEDEN: Antonov mulls damages claim as Saab saga deepens
29 Jul 2011 | Simon Warburton
Russian businessman Vladimir Antonov is to look into the possibility of claiming damages following yesterday's (28 July) news the European Investment Bank (EIB) told the Swedish government it would not accept his bid to become a part-owner of Saab.
SWEDEN: Antonov aide slams "disgraceful" EIB and government Saab development
28 Jul 2011 | Simon Warburton
Russian businessman Vladimir Antonov's spokesman is branding as "disgraceful" today's news (28 July) the European Investment Bank (EIB) told the Swedish government it would not accept his partner's bid to become a part-owner of Saab.
SWEDEN: Saab union bares teeth with bankruptcy claim possible in 14 days
28 Jul 2011 | Simon Warburton
Saab's largest white-collar union says unless its members are paid, it will file for the automaker's bankruptcy, a process that could start within two weeks.
SWEDEN: Saab debt agency move "automatic" says Kongsberg Automotive
27 Jul 2011 | Simon Warburton
Component supplier Kongsberg Automotive says its decision to go to Sweden's debt enforcement agency regarding Saab payment was an "automatic" response.
SWEDEN: Saab union offers loans as white-collar staff go unpaid
27 Jul 2011 | Simon Warburton
One of Saab's major unions says it will offer its members short-term loans to cover the automaker's decision to temporarily suspend white collar wages.
COMMENT: Is Saab now holed below the water?
26 Jul 2011 | Simon Warburton
It seems this has been said many times but for just how long can Saab stay afloat?
SWEDEN: Fresh blow for Saab as white-collar salaries stopped
26 Jul 2011 | Simon Warburton
Beleaguered Saab has announced it will temporarily not be able to pay its management staff due to a lack of funds from investors.
SWEDEN: Saab confirms team in China, quiet on engineers
26 Jul 2011 | Simon Warburton
Saab says it has a team already on the ground in China working with distributor Pang Da, although it was unable to confirm reports it had also sent engineers to work with potential manufacturing partner Youngman.
SWEDEN: Three Saab suppliers secure debt body green light
25 Jul 2011 | Simon Warburton
Sweden's debt enforcement agency will allow a total of eight Saab claimants - including three auto suppliers - to proceed further with the automaker's finances now being examined with a view to any repayment.
SWEDEN: Debt agency poised to deliver Saab supplier judgements today
25 Jul 2011 | Simon Warburton
Sweden's debt enforcement authority is to deliver its verdict on 41 cases brought by Saab suppliers and others as the automaker struggles to meet a late August restart date.
COMMENT: Titanic struggle for Saab to appease suppliers
22 Jul 2011 | Simon Warburton
It is Friday afternoon (22 July) and yet again, Saab is embroiled in yet another twist to its tortuous saga, that seemingly always takes on extra life towards the weekend.
SWEDEN: Saab moves rapidly to quash bankruptcy filing for tool division
22 Jul 2011 | Simon Warburton
A Swedish supplier has filed for bankruptcy of Saab Tools today (22 July), although the automaker said it had resolved the issue this afternoon.
SWEDEN: Saab dashes restart hopes citing supplier holidays
21 Jul 2011 | Simon Warburton
Saab has cancelled plans to restart production on 9 August, citing summer holidays at key suppliers as a reason for the new postponement.
SWEDEN: Supplier body FKG gives cautious welcome to Saab update
12 Jul 2011 | Simon Warburton
Scandinavian suppliers body FKG says that although the mooted restart of Saab production is proceeding slowly, it is at least moving in the "right direction."
SWEDEN: Saab secures deal with "large portion" of suppliers
11 Jul 2011 | Simon Warburton
Saab says it has reached agreement with a "large number" of its suppliers as the automaker attempts to restart production by 9 August.
SWEDEN: Saab nudges nearer property deal with SNDO government letter
5 Jul 2011 | Simon Warburton
Sweden's National Debt Office (SNDO) has today (5 July) written to the government concerning Saab's plans to sell and lease back its property.
SWEDEN: Saab Chinese investors aware of Vladimir Antonov's "unwavering" interest
5 Jul 2011 | Simon Warburton
Saab says its potential Chinese investors are aware of Russian businessman Vladimir Antonov's sustained interest in the automaker and have no objection to his involvement.
SWEDEN: Swedish government on stand-by as debt office mulls Saab
4 Jul 2011 | Simon Warburton
Sweden's government is on stand-by to meet and discuss today's (4 July) news the European Investment Bank (EIB) has approved the automaker's property deal.
SWEDEN: Saab aims to develop new models if Pang Da and Youngman investment approved
4 Jul 2011 | just-auto.com editorial team
Swedish Automobile (SWAN) and Saab today (4 July) announced the signing of final agreements with Pang Da and Zhejiang Youngman to convert the non-binding MOU relating to equity investment into binding agreements, subject to regulatory and other third party approvals.
SWEDEN: Saab secures EUR25m bridge loan, pays wages, eyes restart
29 Jun 2011 | Graeme Roberts
Saab Cars owner Swedish Automobile (SWAN) on Wednesday said it had arranged a EUR25m convertible bridge loan with Gemini Investment Fund, "thereby securing additional short-term funding". It said it had paid employees' June salaries and now had sufficient liquidity to restart production within two weeks, subject to agreements with suppliers.
SWEDEN: Saab secures US$39m sale and lease-back property deal
28 Jun 2011 | just-auto.com editorial team
Saab has reached a conditional agreement for the sale of 50.1% of the shares in Saab Automobile Property with a transaction value of SEK255m (US$39.3m).
27 Jun 2011 | Simon Warburton
Another day at Saab and yet more twists and turns in the story that has had more than its fair share of them.
SWEDEN: Top union officials quit Saab board
27 Jun 2011 | Simon Warburton
Mystery continues to surround why two Saab board union members have resigned, leaving the struggling manufacturer with limited labour body representation at the top level.
SWEDEN: Saab order provides staff lifeline for June wages
27 Jun 2011 | just-auto.com editorial team
Saab says an order for 582 vehicles from an named Chinese company will allow it to pay employees' wages for June and some supplier debts.
SWEDEN: "Too late" for Saab as CLEPA calls for voluntary bankruptcy
24 Jun 2011 | Simon Warburton
Europe's association of automotive suppliers (CLEPA) is calling on Saab to voluntarily declare itself bankrupt to allow employees the chance to secure state aid.
COMMENT: No white knight for Saab?
24 Jun 2011 | Simon Warburton
Even by Saab's standards, it's been a tumultuous week.
THE WEEK THAT WAS: End of the line for Saab?
24 Jun 2011 | Graeme Roberts
After two weeks off on 'staycation', I returned, refreshed, on Monday to see what had happened during an absence in which news had not been a priority beyond my usual Sky News headlines for the UK and NBC's Nightly News to keep up with the US. Opel sale rumours, uh-huh, next Nissan Qashqai for Sunderland, great, Saab stopped, uh-oh, here we go again....
SWEDEN: Union warns 10,000 jobs at risk, threatens Saab with bankruptcy
23 Jun 2011 | Simon Warburton
Saab's major union IF Metall has raised the spectre of forcing the company into bankruptcy unless unpaid wages are settled.
SWEDEN: "Most serious situation": Supplier body sceptical of debt recovery should Saab fail
23 Jun 2011 | Simon Warburton
Scandinavian supplier body FKG doubts its members will receive any money should Saab's dire predicament result in collapse.
SWEDEN: Saab looks to quicken investment talks as wages stopped
23 Jun 2011 | Simon Warburton
Saab says it is trying to hasten financial developments that could secure its immediate future as it announced today (23 June) it had suspended staff wage payments.
SWEDEN: Saab crisis deepens as staff go unpaid
23 Jun 2011 | just-auto.com editorial team
Saab says its employees are not being paid from today (23 June) as the automaker's financial crisis lurches into a new critical phase due to short-term funding difficulties.
SWEDEN: Majority of Saab staff stay despite major shutdown
22 Jun 2011 | Simon Warburton
Saab's major union says most of the troubled automaker's staff have elected to stay despite the massive uncertainty that continues to surround the manufacturer.
SWEDEN: FKG says Saab offers to pay initial 10% of supplier debt
21 Jun 2011 | Simon Warburton
Scandinavian suppliers body FKG says Saab has sent letters to around 700 of its members detailing a potential offer to pay 10% of its debt.
SWEDEN: Scandinavian suppliers asked to help Saab through debt issues
20 Jun 2011 | Simon Warburton
Scandinavian automotive supplier body FKG says Saab has asked its members not to increase the debt burden on the automaker as it looks to secure sufficient financing to restart production.
SWEDEN: Saab looking to "align" 800 suppliers as stoppage continues
20 Jun 2011 | Simon Warburton
Saab says it needs to "align" around 800 suppliers before it can restart production at its Trollhattan plant which remained idle today (20 June).
SWEDEN: Saab quiet on suppliers' debt enforcement bid suggestion
15 Jun 2011 | Simon Warburton
Saab is remaining tight-lipped concerning suggestions up to 54 of its suppliers may have approached an enforcement agency to recover debt.
SWEDEN: Vladimir Antonov pulls out of Saab property deal
13 Jun 2011 | Simon Warburton
Russian businessman Vladimir Antonov has withdrawn his proposal to buy Saab property, although he remains poised to invest in the automaker through other means.
CHINA: Youngman to build cars for Saab
13 Jun 2011 | just-auto.com editorial team
Spyker Cars, Saab Automobile, Pang Da Automobile and Zhejiang Youngman Lotus Automobile (Youngman) have signed a non-binding memorandum of understanding (MoU) for the manufacture and distribution of cars in China.
SWEDEN: Stop-start Saab forced to halt production again
8 Jun 2011 | Simon Warburton
Saab's Trollhattan factory is once again at idle today (8 June) as the Swedish manufacturer struggles to overcome supply issues.
27 May 2011 | Simon Warburton
Just to prove it really has happened, here's some footage of Saabs rolling off the production line at Trollhattan courtesy of Swedish station TV4.
SWEDEN: Pang Da mulls 300,000 vehicle production for Saab
27 May 2011 | Simon Warburton
Chinese distributor Pang Da is envisaging an eventual production run of up to 300,000 cars for Saab as it bids to take a stake in the Swedish automaker.
SWEDEN: Saab production restart witnessed by Pang Da
27 May 2011 | Simon Warburton
Saab's Trollhattan factory has restarted production today (27 May) following its lengthy stoppage due to supplier payment issues.
SWEDEN: Report claims Saab production restart set for Friday
26 May 2011 | just-auto.com editorial team
According to a report in the Swedish daily Dagens Industri, Saab's Trollhattan plant will begin building cars again on 27 May.
SWEDEN: Pang Da's Saab stake aim has Vladimir Antonov's approval
25 May 2011 | Simon Warburton
Chinese distributor Pang Da's application to take a 24% stake in Saab has met with approval from potential investor Vladimir Antonov, who has been kept "fully informed" of developments.
COMMENT: Muller looks beyond institutions for Saab
23 May 2011 | Simon Warburton
It's no surprise today's (23 May) news that Saab intends to pick up its tools again later this week, has been met with a somewhat resigned air by major Scandinavian automotive suppliers body FKG.
SWEDEN: Saab suppliers and unions cautious on mooted restart
23 May 2011 | Simon Warburton
Saab suppliers and unions have issued a qualified welcome to news the Swedish automaker aims to restart production this Friday (27 May), with overdue payment details remaining unclear.
SWEDEN: Saab looks for 27 May production restart
23 May 2011 | Simon Warburton
Saab is aiming to restart production at its Trollhattan factory this Friday (27 May) following receipt of a cash injection from potential Chinese partner Pang Da.
SWEDEN: Some Saab suppliers resuming shipments
19 May 2011 | just-auto.com editorial team
Saab said on Thursday some suppliers had agreed to restart deliveries and it was pursuing talks with others to get production going again after a month's halt due to unpaid bills.
CHINA: Locally-made Saabs in two years - Pang Da
19 May 2011 | just-auto.com editorial team
Pang Da Automobile Trade, China's largest listed vehicle dealer, aims to set up a manufacturing venture with Spyker Cars and a partner in China this year, a Chinese executive said on Thursday, as it moves to turn around money-losing Saab Automobile.
SWEDEN: Banked Pang Da cash could see Saab restart next week
18 May 2011 | Simon Warburton
Saab is aiming to restart production next week if it can secure agreement with its suppliers following the banking of EUR30m (US$43m) from Chinese distributor Pang Da.
SWEDEN: Government rejects tough Saab criticism from Antonov aide
16 May 2011 | Simon Warburton
Claims the Swedish government has a hidden agenda with ailing Saab have been hotly disputed by the administration, which insists it is "working every day" to find a solution to rescue the automaker.
16 May 2011 | Graeme Roberts
Google. "Pang Da" [enter]. "BOAT STERCULIA SEEDS - Pang Da Hai, Quantity: 50g, GBP1.25 (zero-rated). A seed to help moisten the lung and to clear the throat. May help the discomfort of tonsilitis and voice hoarseness." Try again. "Pang Da Automobile Trade Company" [enter]. Eventually, we arrive at the auto distribution company's international home page.
SWEDEN: Latest Saab rescue deal receives cool welcome from suppliers body FKG
16 May 2011 | Simon Warburton
Scandinavia's automotive suppliers association (FKG) has tentatively welcomed today's (16 May) news of an MOU between Saab and Chinese distributor Pang Da, but is questioning the Swedish government's apparent "silence" on the automaker's future.
SWEDEN/CHINA: Saab inks manufacturing/distribution deal with Pang Da
16 May 2011 | just-auto.com editorial team
Saab Automobile owner Spyker Cars on Monday announced a planned strategic alliance with Pang Da Automobile Trade Co, China’s largest publicly traded automobile distributor with over 1100 dealerships nationwide.
BELGIUM: CLEPA questions speed of "haemorrhaging" Saab's doomed Hawtai deal
12 May 2011 | Simon Warburton
Europe's Association of Automotive Suppliers (CLEPA) said on Thursday (12 May, 2011) Saab's haste in trying to tie the financial knot with Chinese automaker Hawtai almost inevitably led to the deal's demise.
CHINA: Muller strives to secure new Saab funding after Hawtai deal failure
12 May 2011 | Simon Warburton
Saab says Spyker parent CEO Victor Muller is now in China to discuss finding new potential partners following today's (12 May) collapse of a planned EUR150m (US$213m) investment by Beijing-based Hawtai.
SWEDEN: Debt Office/Hawtai coy on Saab finance deal collapse
12 May 2011 | Simon Warburton
Sweden's National Debt Office (SNDO) is remaining tight-lipped concerning today's (12 May) news that Saab and Hawtai have ended the proposed EUR150m (US$213m) investment by the Chinese automaker.
SWEDEN: Saab and Hawtai terminate deal
12 May 2011 | just-auto.com editorial team
Saab parent Spyker and Chinese automaker Hawtai have axed the proposed investment deal between them citing problems obtaining consent from what is referred to only as "stakeholders".
ANALYSIS: Saab under Hawtai Motor – could it fly?
11 May 2011 | Glenn Brooks
Can there be another vehicle maker with a recent history as beset by turbulence as Saab? Having been pushed into liquidation by General Motors in early 2010 after the withdrawal of Koenigsegg’s takeover bid, then unexpectedly rescued by Victor Muller’s Spyker Cars, the company is now awaiting new funds from China. But what would Hawtai Motor Group taking an equity stake mean for Saab’s future? Glenn Brooks considers what’s likely to be ahead.
CHINA: Hawtai looks to Saab distribution despite Swedish Debt Office delay
11 May 2011 | Simon Warburton
Chinese automaker Hawtai's ambitious plans to invest in Saab are being held up by further Swedish scrutiny of the deal which could see EUR150m (US$216m) ploughed into the troubled automaker.
COMMENT: Saab-Hawtai deal attracts China media attention
11 May 2011 | Graeme Roberts
The recent announcement of Spyker-owned Saab's potential deal with China's Hawtai, intended to result in Saabs being made in China and a cash injection to keep the Swedish automaker up and running at home, has attracted considerable media attention in China. Here are just two items from the last couple of days on local English language websites we've seen which are worth sharing.
SWEDEN: Saab files with debt office for Hawtai stake
6 May 2011 | just-auto.com editorial team
Spyker-owned Saab Automobile filed an application overnight with the Swedish debt office to allow Hawtai of China to take a stake in the struggling carmaker, a debt official said on Friday.
COMMENT: Leaky embassy dogs Saab
6 May 2011 | Simon Warburton
As if Saab didn't have enough on its plate, what with the tortuously slow will-they/won't -they European Investment Bank (EIB) deliberations, it gets hit by a broadside from the Swedish embassy in Beijing.
CHINA: Saab tries to clear air with Beijing Embassy after leaked report
6 May 2011 | Simon Warburton
Saab is describing as "unfortunate" a leaked document from the Swedish embassy in Beijing that appears to contain "subjective" views on the proposed Hawtai investment in the Swedish automaker.
SWEDEN: Saab restart hopes appear to hit EIB bureaucratic wall
5 May 2011 | Simon Warburton
Saab's hopes of re-starting production next week appear to be coming up against the bureaucratic wall of the European Investment Bank (EIB).
SWEDEN: "Last chance" for Saab says Euro supplier body CLEPA
4 May 2011 | Simon Warburton
Europe's main supplier body says Saab now has "absolutely the last chance" to succeed following news of Chinese manufacturer Hawtai's EUR150m (US$223m) investment plan.
SWEDEN: Saab mulls imminent restart should supplier talks succeed
3 May 2011 | Simon Warburton
Saab says it is hoping to restart production next week at its idle factory although this hinges on crucial talks with suppliers.
SWEDEN: Wary suppliers moot Saab "cash on delivery" possibility
3 May 2011 | Simon Warburton
A Swedish suppliers body is estimating Saab might have to pay "cash on delivery" in order to satisfy its members following today's (3 May) deal with Hawtai Motor of China that has thrown a lifeline to the troubled automaker, whose factory remains idle.
3 May 2011 | Graeme Roberts
Surprise Saab financial saviour Hawtai Motor Group claims on its website to be one of the largest automakers in China. It was founded in 2000 and has two plants located in Rongcheng, Shandong province, and Erdos, Inner Mongolia province.
SWEDEN: New Chinese partner secures financing for Saab
3 May 2011 | just-auto.com editorial team
Saab Automobile has signed a EUR150m (US$222.5m) agreement with Hawtai Motor Group to produce and sell Saab cars in China.
SWEDEN: Government will not intervene to buy Saab as Putin visits
28 Apr 2011 | Simon Warburton
Sweden's government says it has no intention of stepping in to buy Saab should the current protracted refinancing talks come to nothing.
SWEDEN: "No risk" in Antonov Saab offer claims director
27 Apr 2011 | Simon Warburton
Vladimir Antonov's holding company director, Lars Carlstrom, is frustrated at the time taken by the European Investment Bank (EIB) ratification process involved in a refinancing package that he says carries "no risk".
SWEDEN: GM coy on holding key to Saab financing deal
27 Apr 2011 | Simon Warburton
Saab is continuing to talk to the European Investment Bank (EIB) today (27 April) in a bid to resolve financing issues that appear to hinge on approval from former owner General Motors.
SWEDEN: Spyker doubtful on cash injection for Saab
26 Apr 2011 | just-auto.com editorial team
Spyker Cars will enter another round of talks today with the European Investment Bank but is doubtful that it can agree to the EIB's terms for a quick cash injection.
SWEDEN: Saab made to sweat by European Investment Bank
21 Apr 2011 | Simon Warburton
Saab is expressing frustration that approval from the Swedish National Debt Office (SNDO) to change its property and loan status now has to go through a European Investment Bank ratification.
SWEDEN: Saab coy on Chinese connection
21 Apr 2011 | Simon Warburton
Saab is declining to comment on suggestions it is in discussions with Chinese automakers with an eye to taking an investment in the troubled company.
INTERVIEW: Vladimir Antonov holding company director Lars Carlstrom on Saab
20 Apr 2011 | Simon Warburton
Sweden's National Debt Office decision concerning approval or not of Vladimir Antonov's proposal to buy Saab property in exchange for a 30% stake in the automaker is imminent. The Russian businessman's holding company - Convers Group's - director Lars Carlstrom talked to just-auto about why he was so bullish about the automaker's future.
SWEDEN: Antonov's company counters negative PR as Saab decision looms
20 Apr 2011 | Simon Warburton
Russian businessman Vladimir Antonov's holding company says it sees "no reason" why its application to acquire Saab's property in exchange for a cash injection should not be approved despite negative press.
SWEDEN: Saab waits on imminent government nod for Russian cash
20 Apr 2011 | Simon Warburton
Saab has estimated that, should formal approval of investment from Russian businessman Vladimir Antonov occur as early as today (20 April), production could re-start next week.
SWEDEN: Saab communication "a catastrophe": FKG
19 Apr 2011 | Simon Warburton
Saab's communication during the current production crisis has been branded a "catastrophe" by the Scandinavian automotive suppliers association, FKG.
18 Apr 2011 | Dave Leggett
These are worrying times for Saab. It doesn't get much worse than experiencing a liquidity crisis while you are still operating well below break-even.
SWEDEN: Debt Office meets to consider Saab property finance request
18 Apr 2011 | Simon Warburton
Sweden's National Debt Office is meeting today (18 April) in Stockholm to discuss Saab's application to use its property to release collateral.
SWEDEN: Saab control 'clarity' needed for liquidity help
14 Apr 2011 | just-auto.com editorial team
Saab Automobile needs to clarify its control structure before a solution to the company's liquidity problem can be found, Swedish finance minister Anders Borg has said in a television interview.
SWEDEN: Suppliers body and Saab talk by text as crisis mounts
13 Apr 2011 | Simon Warburton
A Scandinavian suppliers body says it has been communicating with crisis-hit Saab by text message as it estimates its members could be losing many hundreds of millions of Swedish Krone.
SWEDEN: Saab staff sent home again as search for finance continues
12 Apr 2011 | Simon Warburton
Saab employees have been sent home again today (12 April) with the automaker's production stop now extending to tomorrow as the hunt continues for new funding.
LITHUANIA: Bank coy on link to Saab
11 Apr 2011 | Simon Warburton
A Lithuanian bank linked to a possible investment in troubled Saab is keeping its cards close to its chest concerning any involvement.
SWEDEN: Saab looks to property sale and leaseback to ease pressure
11 Apr 2011 | Simon Warburton
Saab says it is in talks with a financial institution for the sale and lease back of properties in Trollhattan as it continues its manufacturing halt.
SWEDEN: Saab "story" must be finished next week says suppliers body
9 Apr 2011 | Simon Warburton
Saab says it is continuing to talk to Sweden's Debt Office with the crisis gripping the manufacturer leading the major suppliers association to call for a resolution to the situation by next week.
SWEDEN: Saab battles on as Debt Office says "time running out"
8 Apr 2011 | Simon Warburton
Time is running out for Saab says Sweden's' National Debt Office as the automaker continues to try and restart production following supplier difficulties.
SWEDEN: National Debt Office coy on Saab collateral release
8 Apr 2011 | Simon Warburton
Sweden's National Debt Office is declining to comment on reports it could release some finance to Saab that the automaker potentially made available to secure loans.
SWEDEN: Union sanguine on Saab fire-fighting, confirms supplier issue
7 Apr 2011 | Simon Warburton
Saab's main union is estimating work will be halted at the Trollhattan plant for another few days, but says the automaker is trying to get a "collective grip" on the stoppage.
SWEDEN: Saab confident it will survive as Debt Office mulls Antonov
7 Apr 2011 | Simon Warburton
Saab insists it is confident it will survive as mystery continues to surround any potential investment by Russian businessman Vladimir Antonov into the troubled automaker that continued its production halt today (7 April).
CHINA: Saab supplier group optimistic of payment resolution
7 Apr 2011 | Simon Warburton
Saab's suppliers association head is optimistic the manufacturer will resolve problems that have affected payments for parts, leading to production halts, and has called on politicians to quickly approve any requested changes in ownership structure at the automaker.
SWEDEN: Saab forced to stop again as supply woes mount
5 Apr 2011 | Simon Warburton
Saab has halted production again today (5 April) as suppliers stop deliveries in a dispute concerning payment of bills.
SWEDEN: Suppliers body doubts Saab has paid all money owed
5 Apr 2011 | Simon Warburton
A Scandinavian suppliers association is casting doubt on whether all of its members have been paid following the recent hiatus in Saab production that saw the Swedish automaker halt manufacture last week.
SWEDEN: Suppliers body slams Saab chairman's apparent bonus
4 Apr 2011 | Simon Warburton
Scandinavian Automotive Suppliers Association (FKG) has criticised Saab chairman Victor Muller's decision to apparently take a significant bonus while some of its members are struggling to be paid.
SWEDEN: Saab and Spyker reassure over finances
4 Apr 2011 | just-auto.com editorial team
Saab and Dutch owner Spyker on Monday sought to reassure investors of the brand's financial health, with Spyker head Victor Muller describing current problems as "a small glitch."
SWEDEN: Saab "easy to sell" if bankrupt: Debt Office
1 Apr 2011 | Simon Warburton
Sweden's National Debt Office says Saab would be "very easy" to sell in case of bankruptcy.
SWEDEN: Saab receives union backing following supplier dispute
31 Mar 2011 | Simon Warburton
Saab's largest union has expressed support for the embattled automaker as it halted production this week due to a supplier payments dispute.
SWEDEN: Saab production disrupted as suppliers not paid
30 Mar 2011 | just-auto.com editorial team
Saab temporarily halted production yesterday (March 29) as Saab confirmed that suppliers had stopped deliveries of parts due to a dispute over payments.
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