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Saab given life
Saab began producing jet engines for the Royal Swedish Air Force for WWII -
Saab create first production Car
Saab 92 created -
50% share purchased by GM
50% share in Saab is purchased by General Motors -
First profit recorded in 7 years
Saab recorded their first profit in 7 years after selling 50% share to GM in 1989 -
Saab "Under Review"
GM put Saab up for review, essentially putting the company up for sale. -
Saab goes into administration
Saab is entered into administration, GM meanwhile, agrees to sell Saab to Swedish supercar manufacturer, Koenigsegg. -
No Koenigsaab
the deal between Saab and Koenigsegg falls through -
Saab to close it's doors
Saab are to close all production and the factory gates are to be locked -
Agreement between Spyker and General Motors to buy Saab
General Motors (GM) confirmed that Spyker and GM had come to an agreement allowing Spyker to purchase Saab subject to regulatory and government approval -
Sale completed
General Motors will continue to supply Saab with engines, transmissions and also completed vehicles in the shape of the new Saab 9-4x from GM's Mexican factory. The deal includes a loan from the European Investment Bank, guaranteed by the Swedish government. It comprises $74m in cash up front, payable to GM by July 2010, and shares in Spyker to the tune of $320m -
Spkyer selling Sports Car arm
Spkyer to save Saab - again.
Spyker Cars N.V. announced they had agreed to sell the sports car arm to focus on Saab. They intend to change their name, in May, to include the Saab name. -
Production to resume at Swedish Plant
Saab announced that it was going to build its US headquarters in Royal Oak, Michigan. A new Saab 9-3 was confirmed for 2012, while production restarted at the Saab plant in Sweden in March 2010. Victor Muller, CEO and founder of Spyker Cars stated in an interview that the take-over was financed solely by Vladimir Antonov with the knowledge of General Motors. -
Halted in Trollhättan
Several suppliers halted shipment of components to the Trollhättan assembly plant because of unpaid invoices. As a result Saab had to stop production on April 5. On 3 May 2011, Spyker Cars reached an agreement with Chinese automaker Hawtai Motor to obtain emergency funding for Saab, aiming to restart production within a week. -
Deal with Hawtai fails
The deal with Hawtai Motor company collapsed on May 12 when it failed to get the necessary approvals. Spyker was still hopeful that a deal could be made with Hawtai. -
Spkyker loaned Chinese financing
Spyker announced that they have signed a Memorandum of Understanding with China's Pang Da Automobile Trade Co.(Pang Da), Ltd that would give Saab the financing needed to restart production, and give Pang Da an equity stake in Spyker. -
Forecast sales figures announced
In July, the Company expected to sell between 50,000 to 55,000 vehicles in 2010. As part of its expansion programme Saab announced plans to return to China after General Motors withdrew the brand from the Chinese market in 2008 due to the global financial meltdown, Saab plan to sell between 2,000 and 5,000 cars initially and should reception of the vehicle go well they plan to move production to China as well, the deal will see 10 dealerships opened. The deal will be signed with China Automobile -
Production stops due to unpaid invoices
Several suppliers halted shipment of components to the Trollhättan assembly plant because of unpaid invoices. As a result Saab had to stop production on April 5. -
Hawtai - Build and Collapse
Spyker Cars reached an agreement with Chinese automaker Hawtai Motor to obtain emergency funding for Saab, aiming to restart production within a week. However, the deal collapsed on May 12 when it failed to get the necessary approvals. Spyker was still hopeful that a deal could be made with Hawtai. -
Spyker sign with Chinese Automotive firm
Spyker announced that they have signed a Memorandum of Understanding with China's Pang Da Automobile Trade Co.(Pang Da), Ltd that would give Saab the financing needed to restart production, and give Pang Da an equity stake in Spyker. -
Restart at Trollhättan
it was announced that 'Saab Automobile restarted production at its production facility in Trollhättan.' -
Stopped production due to insufficent supplies
Saab said it had stopped production due to an insufficient supply of parts. This occurring only two weeks after resuming production following a seven-week hiatus. Saab will begin production again starting August 9 -
Chinese interest in 54% investment
China Youngman Automobile Group Co., Ltd (Youngman) and Pang Da announced their intention to buy 54% of Saab for 245 million euro. They also announced that they would finance three new models, Saab 9-1, Saab 9-6 and Saab 9-7 -
Saab can't pay salaries to entire 3800 workforce
Saab announced that they were unable to pay June salaries to the entire workforce of 3800 employees due to lack of funding. The trade union IF Metall gave Saab seven days to pay the salaries to their employees; otherwise, IF Metall threatened to force a liquidation of the company. -
Saab can't pay white collar workers
Saab announced that they were unable to pay July salaries to 1,600 white-collar workers. The company was also unable to verify when the salaries would be paid. However, the entire blue-collar workforce was paid on July 25. -
Saab get's a threat from Unionen
the trade union Unionen announced that if Saab did not pay the white-collar workers within two weeks, Unionen will force the company into bankruptcy. On the same day, European Investment Bank (EIB) announced they rejected the request from Vladimir Antonov to become part-owner of Saab. In response to that decision, the director general of Swedish National Debt Office, Bo Lundgren, severely criticized the EIB for their handling of Antonov in recent months. -
Payday
Saab employees were paid. -
Saab white-collar workers paid
Saab paid the salaries to the white-collar workers through equity issuance where the Gemini Fund bought five million shares in Saab. -
Trollhättan plant end production
Saab's Trollhättan plant ended production. Although there are efforts to restart production at the Trollhättan factory, it is not yet known if and when production will restart at the plant -
Swedish Enforcement Administration start distraint process
as a result of the company not settling its debts. On August 19, it was confirmed that the Enforcement Administration had more than 90 cases with claims amounting to 169 million SEK ($25.5 million/€18.4 million) against Saab, of which 22 are currently in the distrait phase. On the same day, the Enforcement Administration found an account at Skandinaviska Enskilda Banken, which they hoped contained at least 5.1 million SEK ($0.8 million/€0.555 million) which would be used to pay off Saab's debts -
No pay for Blue-Collar workers
it was confirmed that the August salaries had not been paid to the blue-collar employees, and most likely its white-collar workers also, whose salaries were rumoured to be paid on August 26. On the same day, Enforcement Administration announced that it has foreclosed on about 50 million SEK (US$7.9 million/€5.45 million) and they are entitled to the money from the company's payroll account if they do not find the remainder earlier. Saab must have approximately 100 million SEK (US$15.8 million/€1 -
Interim report pushed forward
Swedish Automobile announced that they have pushed forward the interim report until next week (week 35). On the same day it was reported that Saab was preparing an application for reconstruction of the company. Saab was lacking the appropriate funds to start production, pay salaries to their employees, and debts to their subcontractors. -
Interim report released
after a 5-day delay, Saab released its interim report which announced a loss of €201.5 million with revenues of €359 million after the first six months. It was also reported that Saab was preparing an application for reconstruction of the company. Again this is as a result of insufficient funds preventing the start of production, payment of employee salaries, and payment of subcontractor debts. -
Saab file for bankruptcy petition
Saab Automobile petitioned Swedish court for bankruptcy protection, for the second time in less than three years. The aim was to protect the company from creditor's claims until Chinese government approval could be completed for a €245 million deal agreed in June 2011 with Pang Da and Zhejiang Youngman Lotus Automobile (Zhejiang Youngman) -
Bankruptcy petition rejected
Swedish courts rejected Saab's bankruptcy petition, expressing doubt that the automaker could secure the funding necessary to continue. -
€70 Million technology deal
Saab announced that it had signed a technology license agreement worth €70 million with Zhejiang Youngman. On the same day, it became known that the trade unions Unionen and Swedish Organization for Managers (Ledarna) submitted the application requesting that Saab be put into liquidation. Saab Automobile confirmed through a press release that the trade unions had petitioned for bankruptcy supervision of the company. -
Voluntary organization approved
Saab Automobile AB and its subsidiaries Saab Automobile Powertrain AB and Saab Automobile Tools AB (collectively Saab Automobile) received approval for their proposal for voluntary reorganization from the Court of Appeal in Gothenburg, Sweden. -
Chinese Ownership for Saab?
Media reports stated that the Chinese carmaker Youngman and the Chinese automotive retailer Pang Da had agreed to a joint US$140 million takeover of Saab Automobile and its UK dealer network unit from Swedish Automobile, with Youngman and Pang Da taking 60 and 40 per cent stakes respectively -
GM not licensing patents to Youngman
GM announced that it would not continue its licenses to GM patents and technology to SAAB if the company had been sold to Pang Da and Zhejiang Youngman, stating that the new owner's use of the technology is not in the best interest of GM investors. Because of this, Saab started working on a new proposal which would not change the original ownership structure and would not include a Chinese partner as an owner of the company, but instead as a 50% owner of a new daughter company. -
Saab is officially filed for Bankruptcy
With no alternatives left after GM continued to block any form of involvement with a Chinese partner, SAAB officially filed for bankruptcy after a three-year fight for survival. Due to Sweden's bankruptcy laws, a party that files for bankruptcy can be bought out of bankruptcy. Therefore this may not yet be the end of SAAB. -
New interest in Saab
The receivers handling Saab’s bankruptcy stated that discussions were being held with 4–5 interested parties that had the intention of buying Saab out of bankruptcy. Parties that publicly have shown interest are Youngman, Mahindra and Mahindra and the Turkish private equity firm Brightwell Holdings. -
Place your bids please
Several Swedish newspapers stated that Youngman had placed a bid for Saab. -
The Saga continues?
Receivers let the press know that there were now 6-7 interested parties and that they aimed to have a final candidate before the end of February.
