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GM Extends Saab Bid Deadline and Production Expected to Restart

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GM originally had a deadline of December 31st to find a buyer for Saab, but on December 18th GM announced that talks with Dutch luxury carmaker Spyker Cars had failed and the brand would be killed. Two days later Spyker submitted a new offer to buy Saab, which has yet to be decided upon. Spyker Cars Chief Executive Victor Muller has now stated that GM has extended the deadline until January 7th.

Saab spokesman Eric Geers said “We have the orders and we have to deliver them as usual. We also have the orders for the 9-3 and others. The factory has to continue again.” He also stated “We are preparing the wind-down process. At the same time we are open to options, to bids that come in. Therefore the deadline has also been dropped.”

If Saab does eventually die 3,400 workers in Sweden will lose their jobs.

Full Story: Reuters

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