Remember when General Motors blocked the sale of Saab (from Danish automaker Spyker) to Chinese manufacturers Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile over the sale of Saab? Not surprisingly, Spyker is still not over the outcome, and has motioned to sue General Motors for $3 billion in damages.
Spyker alleges that GM unfairly intervened on the sale to the Chinese automakers last year. The biggest part of the reason for GM blocking the sale surrounded GM’s attempts at protecting its interests by keeping its technologies and architectures found in Saab’s vehicles out of competitive hands. Though we figure that if Pang Da or Zhejiang wanted to, they could just buy a few 9-5 sedans and 9-4X crossovers and reverse-engineer them in a shop if they wanted t0, anyways.
“We owe it to our stakeholders and ourselves that justice is done,” said Spyker CEO Victer Muller. “We tirelessly worked to save Saab Automobile until GM destroyed those efforts and deliberately drove Saab Automobile into bankruptcy.”
GM has yet to release an official statment, while Saab is being bought out of bankruptcy by National Electric Vehicle Sweden AB. At the same time, Spyker has yet to turn a profit.
Comments
Shouldn’t have bought it if they didn’t know what to do with it or if they didn’t have the cash to turn it around. Now, let’s sue anyone and everyone related to the deal. A$$clowns.
I was reading about this on a Saab blog, here is a little bit of that article.
“There was a contract between Saab and GM Global Technology Operations, Inc. (“GTO”) called the ATLA (Automotive Technology License Agreement)”
“GM was aware and informed regarding Saab’s attempts to find new funding and did not state that they were in opposition to any such deals made by Saab and its Chinese partners.”
“Under the Saab Vehicle Supply Agreement, which was signed when Spyker purchased Saab from GM. GM had agreed to supply components and manufacture the Saab 9-4X for Saab through December 2014. And neither GM nor Saab could cancel this agreement for convenience.”
“Even so GM, through Mr. Cain, threatened that GM would not continue to provide Saab with GM components or manufacture the Saab 9-4X if Saab entered the Framework Agreement.”
They should have read the small print.
Who?
I love my 9-3. Seen one 9-4x on the road. Sad to see the brand disappear. I will continue to own Saab vehicles for as long as I can. Hope I can find quality, low mile used ones in the future
Lawyers lining their own pockets.
If I didn’t know the facts I would agree with you but in this case GM deserves what it’s getting
yes i agree with you. when i heard spyker was going to buy saab was so excited because i love saab and i love spykers