What To Do With Bankrupt Saab? Sell It To The Indians

Bertel Schmitt
by Bertel Schmitt
what to do with bankrupt saab sell it to the indians

Yesterday, the alleged enthusiast blog did play its usual “if we would tell you, they would shoot us” about a possible suitor from India:

“We are not allowed to reveal the identity of the company yet, but we are allowed to reveal some facts about it. They are of course based in India but acts on a world-wide basis with much more than 100’000 employees worldwide. They are a multi-billion dollar company, that work on multiple fields such as energy, logistics, real estate and of course within the aerospace and automotive industry.”

Bloomberg does not bother playing twenty questions and reports:

“Mahindra & Mahindra Ltd., India’s biggest sport-utility vehicle manufacturer, is interested in buying at least parts of bankrupt Swedish carmaker Saab Automobile, two people familiar with the situation said.”

Not more is known about the matter. According to Swedish media, Mahindra hasn’t even had an audience with the administrators yet.

Join the conversation
8 of 29 comments
  • Inside Looking Out Inside Looking Out on Dec 31, 2011

    I have a friend who saw the top secret documents referring to CIA operation under the code name "Omega-2012". According to those documents the main objective of operation "Omega-2012" was to prevent unfriendly governments from getting their hands on disruptive technologies (like Phoenix) developed by American companies and their affiliates. CIA forced US companies and especially ones who get help from US Government to pledge unconditional allegiance to the leaders of operation "Omega-216". Many media sources were also forced to participate in operation by discrediting persons and organization involved in technology transfer. Another method used was to cut financing and help from other governments to companies involved in transfer. I know for sure that Mr.Antonov is an honest man and a visionary businessman. But unfortunately with his vision for new SAAB he went too far against interests of US Government and its puppets. CIA also forced Swedish government to stay away from SAAB and watch it drown. Swedish government had no reason not to save thousands high paying jobs and help to develop world changing technologies like Phoenix. But it and many European bank were discouraged from helping SAAB since Europe now depends on bailout funds from US Government not different from what happened after WW2.

    • See 2 previous
    • Bertel Schmitt Bertel Schmitt on Jan 01, 2012

      Dammit! This project was supposed to be top secret! People just can't be trusted anymore, always running off at the mouth.

  • Jeff_vader Jeff_vader on Jan 01, 2012

    Yes Paddan, I guess that it could be true. But here's a thought, a bit left field I know but bear with me. The 9-3 was nearly a decade old when Saab went bust and wasn't good enough. The New 9-5 was brand new & still wasn't good enough. The cars weren't selling because they weren't any good not because Jaguar were worried about sales of the XF. And what of Saab is there left for the Indians to buy? As I said up there; the landlords own the factories, Youngman are convinced they own the PhoeniX project, the 9-4X would appear to be cancelled, the Latvian banks will want Antonovs money back, GM will be able to veto any deal and SAAB AB are probably going to take the name back. All that leaves is the tooling for the current 9-3 and good luck with that. Those ostrichs with their heads buried in the sand over at The Church Of The One True Saab STILL don't get it. They are talking like a white knight will come over the horizon to buy the whole company when there isn't a whole company still to buy. Their total ignorance in all matters business and in particular all that "we know something no one else knows" BS just astounds me every time I lurk there (I was banned for pointing out some home truths about North Street Capital.). They just can't understand that nobody runs a car company for love, its all about the money. Saab has died and despite what the true believers think, is not coming back because the product wasn't good enough & not enough customers cared anymore. Its the first brand, it will not be the last. This year is going to be one where the industry finally realises that there are too many brands trying to sell too many cars to a market that is no longer there. A LOT of people in this business are about to have a very bad year.

    • Paddan Paddan on Jan 01, 2012

      Not sure I agree that the cars were not good enough. They were not good enough at the price point they were trying to sell at. The vehicles were actually excellent. And if that crap from Chrysler can sell, the Saabs should have sold, but they were simply too expensive and nobody knew about Saab living in 2010 after GM's liquidation of Saab because Swan didn't have enough resources to advertise the hell out of them or give them drop dead warranties that made them super compelling to either former Saab owners or those new to the fold. Unfortunately, the innovations the Saab was working on never came to fruition such as electric all wheel drive and Phoenix. There were truly innovative folks at Saab that could not realize their work. There may be a sliver of hope GM might relicense it's IP to another company which could buy Saab in BR, but given the conditions I suspect GM would require and cost, I doubt that will go anywhere. By the way, I think the real estate deal might have to be unwound due to its proximity to the BR filing but I may be wrong about that. I don't think the Latvian banks will get their money back anytime soon.

  • Jeff_vader Jeff_vader on Jan 06, 2012

    Over at The Church Of The One True Saab, their "We Are Many,We Are Saab" campaign isn't going so well Their big meetings on the 15th/16th worldwide have so far attracted just under 2000 members of the board. If you say treble that for people who know about the campaign but don't want to post, that makes about 6000 people who still give a crap about Saab. That will look attractive to any possible buyer. 6000 Saabistas driving around in 15 year old 9000s shouting about how nasty GM are. I'm pretty sure that 6000 is pretty much what Ford register just in the UK per month,

  • Jeff_vader Jeff_vader on Jan 08, 2012

    This just in from the Not A Surprise At All file. The gorgeous, pouting Ms Pang as stated in an interview with di.se this evening that Youngman will be happy to get the tooling, production line and rights to the current 9-3 as part of the bankruptcy proceedings to go along with the PhoeniX platform which they already believe they have a watertight contract for. She also believes that GM will withdrawal the rights to the new 9-5 and the 9-4X is dead and buried. Looks like someone thinks they've got exactly what they wanted all along. Ever get the feeling you've been shafted, Mr Muller?