Victor Roberto Muller has already tweeted that he is going back to the “drawing board” !!
But the pictures he draws are all illustrations for fairy tales.
General Motors Co said on Monday it had decided to sever its ties to Saab and its commitment to supply it with vehicle components and the 9-4X model because of the risks posed by the pending sale of the Swedish auto brand to Chinese owners.
“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,” GM spokesman Jim Cain said. ….
On Friday, GM had said that it would be difficult to support a sale of Saab if it hurt GM’s competitive position in Chinaand other key markets.
China’s Pang Da Automobile Trade Co and Zhejiang Youngman Lotus Automobile have struck a deal to buy Saab from its current Dutch owner, Swedish Automobile , in what amounts to a rescue plan for the Swedish auto brand formerly owned by GM.
But the deal had to be approved by GM, which still has preference shares in Saab and has supplied the Swedish auto brand with crucial components. …
The new deal which had been announced last week was for 100% ownership to pass to the Chinese. When asked if GM licences would be available if the plan went back to the Chinese buying just 53.9% of Saab – as originally envisaged – the GM spokesman refused to speculate.
The k2p blog 