No sooner had this blog brought you the news that China’s Hawtai Motor Group were looking to buy into and effectively rescue the ailing Saab car brand, the deal fell through. Things move fast in the global motor industry, and the rejoicing no doubt felt in the Swedish car plant will have been quickly replaced by anxiety once more.
The company’s Dutch owner, Spyker, revealed that the Hawtai deal had failed because the Chinese firm’s shareholders did not give their approval. The proposed £134 million investment would have kick started Saab production again.
With luck though, all is not lost. Spyker know that Saab is still a very popular marque and that no one wants to see such a famous brand of car breakdown and fade away in this manner. They are in discussions with other Chinese firms and are looking for other funding possibilities in the short term.
Saab had stopped production on the 6th of April because their suppliers has not been paid and had ceased delivery of crucial components.
The Chinese have the money and the ambition, it seems, and European car makers have the technology. While the deal would no doubt be excellent news for Saab, many might point out that Hawtai would be the real winner had the deal gone through; under the previously proposed agreement, the Chinese auto maker would ‘share technology’ – which basically means they would discover all those Saab manufacturing secrets that have taken decades to come about. It would also have given them a 30% stake in Spyker, who have some pretty impressive automotive technology themselves.
We’ll be keeping a watchful eye to see who’s the next Chinese car maker in line to gain a foothold in European automotive manufacturing.
Breakdown Cover from 
