I apologise if the lack of writing here today has been a cause for concern. Simply put, there was nothing I could say. I had my own thoughts, of course, but they were best left unpublished, especially on an official site.
For those who haven’t caught up with the news…..
Back when our Chinese partners made a low offer to purchase 100% of our operations, Victor Muller suggested that it would trigger a change of control clause that GM and other partners would have difficulty with. The more recent, higher offer, did actually trigger that clause, meaning that GM had to give their blessing to the deal. As of yesterday, GM declared that they do indeed have difficulty with it.
“Although General Motors is open to the continued supply of powertrains and other components to Saab under appropriate terms and conditions, GM will not agree to the continuation of the existing technology licenses or the continued supply of 9-4X vehicles to Saab following the proposed change in ownership as it would not be in the best interests of GM shareholders,”
So that’s where we’re at right now.
Various parties sit at tables and try to find a solution that everyone can live with. Again, there’s no more that can be said about it right now because it’s still in progress.
The ramifications are quite significant, of course, so we hope that the parties to the discussions take part in good faith and with a long-term view.
There’s no reason why Saab Automobile has to succumb to the circumstances that have plagued it this year. As I mentioned a few days ago, Ford managed to get a similar deal done to give Volvo a future. I think it can be done here, too. We still have a lot of very good reasons to be here in this industry. If there is goodwill in the room, there will be a way to work this out with an agreement that will work for all concerned.
Until then, we stay tuned.