Swedish car manufacturer Saab, and associated
interests Saab Automobile Tools AB and Saab Powertrain AB, has
filed for bankruptcy.
Potential investment in the company, including
that of Zhejiang Youngman Lotus Automobile, stalled after US
stake-holder and supplier General Motors opposed the possibility of
Chinese manufacturers’ accessing technology licences.
Go deeper with GlobalData
Saab owner Swedish Automobile NV will entirely
write off its interest in Saab Automobile and does not expect a
return on any of its shares in the company.
Milton Keynes-based Saab Great Britain was
placed in administration at the end of November, though its
dealers and associated independent businesses were placed to
benefit from sales opportunities, according to a
spokeswoman.
richard.brown@vrlfinancialnews.com
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