Here's Why GM's Reinvention of Saab Didn't Work - The Cheat Sheet
The once-proud automaker with its reputation for building some of the most unique and innovative cars in the world now lies in a state of bureaucratic life support, a victim of half a decade’s worth of money woes, failed ownerships and a... It’s owned by an investment group called National Electric Vehicle Sweden – a Hong Kong-based company registered in the British Virgin Islands, which itself is going through bankruptcy proceedings. A car hasn’t rolled off Saab’s Trollhättan, Sweden assembly lines since early 2014, and with each passing day, it seems less likely that they ever will again. In 1989, General Motors bought a 50 percent stake in the newly-formed Saab Automobile AB for $600 million. General Motors gained a foothold into the competitive European luxury car market, and Saab benefitted from GM’s massive global dealer and supply chain. Included in the contract was an option for GM to buy the remaining 50 percent from parent company Saab AB for $125 million after 10 years, which they exercised in 2000, turning Saab into a wholly-owned GM subsidiary. By the time GM jettisoned Saab during their bankruptcy proceedings in 2010, the company had gone from one of the most exciting and unique automakers in the world to a husk of its former self. An automotive wing was officially created in 1947, and the company launched the Saab 92 in 1949. The car was powered by a. Source: www.cheatsheet.com
