General Motors may now be forced to close the car brand after an anticipated deal falls through.
Detroit, Michigan (WiredPRNews.com) – General Motors Co. is no longer in talks with a Swedish specialty carmaker to buy its Saab brand. As reported by the Associated Press (AP), GM’s anticipated deal with Koenigsegg Group AB has fallen through, which may mean a closing of the brand.
As noted by the AP, the announcement made Tuesday leaves 4,500 employees of Saab, a majority of them based in Sweden, at risk of losing their jobs. Other solutions for saving the brand have reportedly been discussed, however, the only one deemed viable is for it to be purchased by another company. Joran Hagglund, with Sweden’s Ministry of Enterprise, is quoted in the report as stating of government talks about the future of Saab, “We have been very clear from day one that the government will not be the owner.”
WiredPRNews.com – The latest in Business News
Photo Found – Wikipedia : Credit – Saab Automobile AB