The Story of Saab Automobile
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- 9 February 2018
- Author: Nikolas Perseputto
Saab was one of those automobiles manufactures that made its contribution to the development of the auto industry but due to certain reasons stopped operating. The ownership of the company has changed several times, and at some point, it was fully purchased by GM. So, when did gm takeover Saab, how, and why did this happen? If you want to find answers to these questions as well as some other interesting information about Saab Automobile, please read this article further.
Saab before Being Acquired by GM
Are you one of those people wondering when did GM buy Saab? Probably, you are also interested in knowing how Saab was established and operated before the purchase.
The story of Saab Automobile AB started in 1945 when it was founded in Sweden by Saab AB, its parent company, in order to implement a new project. This is how the Saab 92 model was designed and then introduced in 1949. The situation remained almost unchanged for nearly 20 years until the merge of Saab AB and Scania-Vabis. It took another ten years to present to the world the Saab 900, the most popular model of Saab. In several years, the Saab 9000 model was also introduced to the public.
When Did GM Own Saab?
Saab Automobile AB became an independent auto company in 1989 due to the restructuring of the Saab-Scania’s auto division. This was when GM, a US manufacturer obtained 50% of the company by investing $600 million. This period is known for launching the two new models: the Saab 9-3 and then the Saab 9-5. In 2000, the remaining 50% was acquired by GM for another $125 million, which made Saab Automobile belong to the American company fully.
When Did GM Sell Saab?
Although Saab fully belonged to GM for many years, their paths diverged in 2010 when Saab Automobile AB was sold by General Motors to Spyker Cars N.V, a Dutch auto manufacturer. The next year was pretty tough for Saab because it struggled to avoid bankruptcy that was announced anyway.
This happened due to a Chinese consortium’s interest in purchasing Saab, which was blocked by the GM’s former owner in an attempt to avoid sharing the technology with Chinese automobile manufacturers.
The debts of Saab Automobile were purchased by NEVS in 2012. The model NEVS Saab 9-3 had lots of in common with the models previously manufactured by Saab. The license of NEVS allowing it to use the Saab name expired in 2014. This was how the era of Saab was ended.