"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," Henderson added.
In September, Koenigsegg Group AB had signed a Memorandum of Understanding (MOU) with Beijing Automotive Industry Holdings Co. Ltd. (BAIC) to explore growth opportunities in the Chinese and international markets for the products of both SAAB and BAIC.
The Swedish sports car maker has yet to release an official statement on the matter.
Just moments ago, General Motors announced that it will be closing down its money-losing SAAB unit after concluding that the sale of the Swedish brand to tiny Dutch supercar maker, Spyker Cars, could not be completed in the time frame that had been set....
It was confirmed today that General Motors has come to an agreement with Beijing Automotive Industry Holdings Co. Ltd (BAIC) for the sale of certain key assets from SAAB. BAIC, China's fifth-largest automaker, bought the intellectual rights for Saab's...
Citing unnamed sources, Sweden's Ny Teknik newspaper reported today on its website that Saab has sold the production tools for its outgoing 9-5 model to China's Beijing Automotive Industry Holding Corp. (BAIC). Saab refused to confirm or deny...
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According to a report from the Swedish financial daily newspaper, Dagens Industri, Sweden's own supercar builder Koenigsegg, is one of the three remaining parties interested in buying General Motors' SAAB brand. The newspaper said that the other...