By on February 8, 2010

One more obstacle to the Spyker-Saab deal has been eliminated, as BusinessWeek reports that the EU has approved the Swedish government’s guarantee of a €400m ($547m) loan to the company from the European Investment Bank. EU competition commissioner Neelie Kroes approved the loan today, saying it would not cause “any undue distortions of competition,” and that Saab had offered “adequate remuneration” and collateral. The EIB still has to give the loan final approval, a prospect that Swedish government officials say is likely, despite the fact that €320m of the package was originally intended as an environmentally-friendly car development fund. As Bertel Schmitt put it, “keeping the lights on in Trollhättan while GM delivers parts doesn’t quite fit the purpose.” Unless of course you’re willing to justify anything to get your hands on the  new 2010 9-3X “Cross-Combi,” which SaabHistory claims can now be pre-ordered from the remaining US Saab dealers. And if the sedated Swedes in this video are anything to go on, the 9-3X is sure to be, well, a Saab.

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2 Comments on “EU Approves Sweden’s Saab-Spyker EIB Loan Guarantee...”


  • avatar
    redseca2

    A linky to a classic Saab story in last Sunday’s San Francisco Chronicle:

    http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/02/07/MTNR1BUE12.DTL&type=autos

  • avatar

    The EIB loan will go towards the development of the new 9-3, which should fit the “environmentally-friendly” technology requirement – less weight, lower emissions, alternative propulsion, etc. Saab engineers have been working on such things for years, incl. the 9-3 plug-in concept that GM swiftly killed.


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