Chapter 09 - The Lost World by Sir Arthur Conan Doyle - Who could have predicted?
Saab future still Hazy After China Hawtai Crumbles case.
Saab began this week with a bright future and what looked like a new agreement that would bring some stability and financial security, but at the end of the week, the Swedish automaker seems ill on the same soil more fragile than before .
Yesterday an agreement with China Hawtai Motor Group collapsed; Hawtai the agreement would have given Saab a cash injection if necessary on the 215 million that Saab could have where it's needed in return Hawtai would have taken 29 to 9 percent of Saab's shares; Hawtai would also have been able to build Saab designs for its domestic market, while Saab would have had access to diesel Hawtai cleaning and possibly based on certain remarks could have Hawtai market access U S.
But there are two very different accounts of why the agreement was reached on Saab Automobile and parent company Spyker Cars said that Hawtai terminated the agreement because of the commercial and economic realities, not lack of government approval, which seems to contradict what Spyker said earlier Hawtai said other outlets that the agreement hadn t found enough support from donors and the Chinese automaker had been terminated by consensus.
Hawtai vice president Richard Zhang, also told the Financial Times that they were still in talks with Spyker and the chances of a new agreement weren t completely off the table.
The agreement would probably have given a very valuable Hawtai foot on the Chinese automotive market; it included the rights to build the next generation Saab 9-3 in 2013, and the old Saab 9-5 design was immediately involved Hawtai aims to produce more than a million vehicles a year by 2015.
Victor Muller, CEO Spyker, said that the company was in talks with Great Wall Motor, another Chinese automaker; Friday, the Great Wall, however, several sources said that although she had been in talks about Saab at an earlier time, it hadn t from Hawtai deal.
Meanwhile, the Russian investor Vladimir Antonov is still interested in buying the game, although it was blocked from an earlier agreement.
Saab Automobile has had this week also worked with suppliers to renegotiate the conditions in order to start production at its anchor Trollhattan plant in Sweden next week, but as of Friday, talks with suppliers was again put on hold the plant has been idle for about six weeks and Muller said earlier this week that it would take about 90 million to make good with suppliers and restart production.
Earlier this week, production started at GM Ramos Arizpe, Mexico plant on the new 2011 Saab 9-4X, which we have rolled this week.
Saab sold only 32,000 vehicles last year worldwide and based on estimates off the cuff Saab officials we spoke in Washington, DC earlier in the week, the automaker needs to sell approximately 85,000 kind of volume, it was just a few years ago to get out of the red.
This looks like a very tall order, but Saab and Spyker have proved to be stubborn If their charismatic CEO Muller can remove another additional rescues, we wouldn t even write to Saab history books altogether.
Saab future still Hazy After China Hawtai case Crumbles, saab, future, foggy, Hawtai.
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