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I am confused by all the news.
Some stories feature the closing of Saab by GM and others talk about life after GM. Here are some headlines from today, only a few hours old: From the AP: "Beijing Autos to explore new cooperation with Saab", from Reuters: "BAIC to make Saab design-based cars as soon as 2011", and from The Wall Street Journal, "Beijing Auto, SAAB Mull Green Options".
More from the WSJ story: "Mr. Wang, who led Beijing Auto's negotiations to purchase certain assets from the Swedish car maker, noted that the Chinese auto maker and Saab have agreed to form a "strategic relationship" and are currently exploring "many, many" ways to cooperate.
In addition to discussing possibilities of joint "new energy" vehicles and buying components together, Mr. Wang said the state-owned auto maker may help distribute Saab cars in China. "Saab is interested [in having] us sell Saab-branded vehicles in China… has proposed BAIC to be a distributor (of Saab vehicles)," Mr. Wang told a small group of reporters in Beijing Friday."
"Still, deepening the two auto makers' relationship is made more complicated by Saab's uncertain future. In the wake of the sale of certain assets to Beijing Auto, which is expected to improve Saab's cash reserves, GM is still looking for a buyer of all of Saab."
"Beijing Auto said Monday [Dec. 14] it agreed to buy intellectual property for two sedans -- the current 9-3 compact sedan and the 9-5 midsize sedan – and equipment to produce them. The current 9-5 model is being phased out by Saab, and Saab is expected to cease to use the model's platform, handing it over to Beijing Auto."
From Edmunds, today: "But when asked "is this the final nail in the coffin?" Smith added: "We're going to begin the wind-down process. It is possible that during the wind-down, any number of people could come forward and express interest. There were vehicles that are in development that I imagine would be attractive to some folks, but that has not been our focus. I can't rule it out, but the clock starts now as we start the wind-down process."
So, does all this simply mean that the factory is shutting down and GM is still looking for a buyer? Until worker find other jobs, they still have the organization, the technology, the engineers, the physical plant, etc.
Time will tell whether this is just a rough detour for Saab or whether it is the end of the road.
posted by 72.19.52...
, Sat, 19 Dec 2009 09:12:24
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