How could such a reliable, sturdy brand of car such as Saab be under threat? It seems ironic that a car renowned for breaking down a good deal less than many other types of car, should be the subject of such speculation as regards its future. The famous car company was given a kind of short term European cover from Netherlands based sports car maker, Spyker, before the big boys arrived.
The thing is, Spyker hasn't been able to do enough. That powerhouse of international manufacturing, China, has been called upon to find the money that will, with luck, help Saab continue making cars. Recently, two Chinese firms have agreed to invest a total of 245 million euros into the business, which has been compelled to halt production in its homeland, Sweden, due to financial constraints.
The non-binding deal involves the investment of Zhejian Youngman Lotus Automobile, which would invest 136 million euros (and receive a 29.9% stake in Spyker), while Pang Da Automobile would ramp up its investment in Saab to the tune of 19 million euros – which would mean it would retain its previous cut of 24% in the company.
So why are the Chinese so interested in this relatively small Scandinavian car maker? Put simply, these Chinese firms want to take this established marque into their homeland, where western goods are increasingly in demand. Not only this, but these Chinese car makers, which may currently lag far behind their US and European counterparts, can get a 'foot up' by buying Saab – namely by them having access to some of the most cutting edge automotive technology on the market.
It seems that Chinese auto firms are starting to buy up key European car makers (MG, Saab) - as are their Indian counterparts (Tata having bought Jaguar and Land Rover). Time will tell how they use this technology for the advancement of the car – with luck, it should help provide some impressive results.