2024 Author: Eric Donovan | [email protected]. Last modified: 2023-12-16 21:13
Saab can continue to rehabilitate itself despite resistance from the former parent company General Motors. However, the ailing automaker is still threatened with death.
Despite resistance from the former parent company General Motors, the restructuring of the badly ailing car maker Saab can continue. As long as the Swedish company still has funds, the "voluntary reconstruction" could continue, said administrator Guy Lofalk on Wednesday.
GM stays tough
The US company General Motors (GM) announced earlier this week that it did not want to extend existing technology licenses if Saab ownership changes as planned. The Americans want to prevent their technology from falling into the hands of emerging Chinese competition that Saab wants to save. It will be seen whether GM can be convinced to change its stance, Lofalk told the broadcaster Sveriges Radio.
The Detroit resistance is a major blow in an effort to save Saab from doom. The car manufacturer Youngman and the wholesale company Pang Da from China had signed a letter of intent for the purchase of the traditional Swedish brand and want to invest millions. (dpa)
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