Saved by Antonov: Saab Sells Production Facilities to Russian Banker to Get Cash

The Swedish government offered Saab conditional backing for a deal to free up cash for the company (see previous story here), whose production lines have been stopped for two weeks as Saab didn't pay suppliers. "We have decided to allow the Debt Office to conclude an agreement with Saab," said enterprise minister Maud Olofsson during a news conference on Friday.

The government has approved a proposal from the Debt Office to allow Saab to sell real estate, including the production plant, to Russian financier Vladimir Antonov and then lease it back from him. The minister said this deal would bring €30 million to Saab in the first phase, although the real estate was worth much more than that.

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Saab Roller Coaster Continues as Cash Gets Tight

Saab just can't seem to catch a break. After moving from the General's formerly overcrowded pocket into the hands of Spyker, the once-quirky brand is now doing all it can to bring production back online after failing to pay suppliers.

The gist is this: Saab received 400 million Euros (~$580 million) from the European Investment Bank so it could keep on ticking. Sweden guaranteed the loan, meaning whatever Spyker's resolution calls for must get the go-ahead from the Man.

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SAAB CEO Jan Åke Jonsson to Retire, Victor Muller Takes Over Temporarily

Dutch automaker Spyker Cars NV announced on Friday that Saab Automobile’s Chief Executive Officer and President, Jan Åke Jonsson, has decided to step down from his position on 19 May, 2011. The company said that until a successor to the longtime Saab executive is found, Spyker Car’s CEO Victor Muller will temporarily assume the role of President and CEO of Saab Automobile AB in addition to his role as Chairman of the Board.

The 59-year old executive, who has worked for Saab for close to 40 years, took over the helm of the company in 2005 when it was still under the ownership of General Motors. Jonsson has been credited for playing a key role in the savior of Saab when the Detroit automaker wanted to close down the brand.

“I have been with Saab Automobile for almost my entire career of 40 years, of which almost six years as the head of Saab Automobile,” said Jonsson in a statement. “The last three years have of course been very demanding and forced me to focus on one thing only – my work. Now it is time for me to also spend some time on other things that had to stand back for my duties to Saab Automobile.”

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Saab Releases UK Pricing and Specs for 2012MY 9-3 Range

We had our first look at the modestly refreshed 2012MY 9-3 range at the Geneva Motor Show earlier this month, but today, Saab GB announced prices and specifications ahead of the UK launch next month.

The new model year brings some subtle exterior updates such as the restyled front bumpers, ‘ice block’ headlamps, a new grille, a Saab word mark that replaces badging on the chrome trim at the rear end and the addition of a boot-mounted spoiler for the sedan variants.

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VIDEO: SAAB Design Boss Jason Castriota Talks PhoeniX

We've already brought you the news on Saab's PhoeniX concept that's built on the underpinnings of the next 9-3 series and is on display at the Geneva Motor Show, but the Swedes have just released a video with the firm's new Design Director Jason Castriota giving us a tour of the 2+2 coupe.

In the video after the break, Castriota explains the PhoeniX's bespoke design features and its significance for the future of Saab product design starting off with the next generation of the 9-3 which is scheduled for release in 2012.

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2012 Saab 9-3 Griffin: Facelift Model Receives Subtle Styling and Engine Upgrades

Aside from the limited-run 9-3 Convertible Independence Edition, Saab also announced today a mild facelift across the 9-3 range, which gets refreshed exterior and interior styling plus the introduction of gasoline direct injection on the 2.0-liter engines. The updated range will carry the 9-3 Griffin moniker and it is basically a last edition before a new generation takes over in 2012.

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SAAB 9-3 Convertible Independence Edition Officially Revealed

Saab has built a limited edition of its 9-3 Convertible to celebrate the first anniversary of its independence, or to put it more realistically, the completion of the sale from General Motors to Spyker Cars. Called the Independence Edition, only 366 examples of the car will be produced, one for each day during the first year and one extra for the start of a second year.

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First Photos of New SAAB 9-3 Convertible Independence Edition

On Wednesday, February 23, SAAB will host a special party at its Trollhättan plant in Sweden to celebrate what it describes as "the first anniversary of Saab’s rebirth as an independent carmaker".

I'd argue if Saab is really independent given that the company heavily relies on GM for its current portfolio (one example is the new 9-4X which is based on the Cadillac SRX and is built at the Detroit automaker's Ramos Arizpe factory in Mexico) and is actively seeking help to develop its future models having already sealed a deal with BMW for the supply of 4-cylinder engines, but that's another story for another time.

Case in point is that at the birthday party, the Swedes plan to debut a commemorative edition model based on the 9-3 Convertible, the first pictures of which were spilled on the internet today. According to Saabsunited, the 9-3 Convertible Independence Edition will be built in a limited run of 366 units, apparently one for each day that passed since Spyker Cars took over the company from GM.

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SAAB to Celebrate its own...Independence Day on February 23rd

A little over a year ago, Saab's future was very much in doubt. GM was looking for a buyer for the Swedish brand and even contemplated closing down the Trollhattan plant. On the other hand, investors weren't exactly anxious to put their money on what they thought was a sinking ship. But, on the 23rd of February 2010, Saab's fate took a surprising turn for the better as GM sold the company to Spyker Cars, saving thousands of jobs and decades of tradition.

To celebrate the first anniversary from the sale, Saab will throw a massive party on February 23, 2011, turning its factory in Trollhattan into an entertainment arena. All 3,800 employees will have the day off and will be joined by dealers, suppliers, VIPs and media in celebrating Saab's rebirth as an independent carmaker.

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Saab to Show a New Hatchback Concept as well as Updates on 9-3 Range at the Geneva Salon

For Saab, 2011 will be a crucial year, one that could make or break the company’s success. In a statement made in January, Chairman Victor Mullen said he's confident that the automaker will be able to pick up momentum and achieve the projected sales volume of 80,000 units. But for that the Swedes need new models and it seems that they’ll deliver.

According to a press invitation sent out today, aside from the already confirmed and teased 2011 9-5 Sportcombi, Saab's Geneva Motor Show stand will host the premiere of a brand new concept model and either facelifted or special edition versions of the 9-3 range.

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Saab Recalling 2010-2011MY 9-3 Models Due to Faulty Fuel Pumps

Saab is recalling 4,400 passenger cars from the 2010-2011MY 9-3 series manufactured from June 2010 through October 2010 to fix fuel pumps that can seize and cause the engine to stall. According to the National Highway Traffic Safety Administration (NHTSA), some of these fuel pumps may have internal components with incorrect specifications.

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Saab to Offer Hirsch Performance Products for 9-3 and 9-5 Models in the USA

Current and future Saab owners in the U.S. looking to tune their cars with factory approved upgrades will be happy to learn the Swedish automaker announced today that Hirsch Performance aftermarket products will be available for its 2007-11MY 9-3 and 2010-11MY 9-5 cars through select Saab dealers in the States starting in spring 2011.

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Saab Officials Confident that 2011 will be a Turning Point in the Company’s History

Saab sold just 31,696 cars globally in 2010, after having cut its sales target from 45,000 to 30,000-35,000 vehicles, due to the restructuring of the brand’s supplier base. However, with fourth quarter (2010) sales up 129% compared to 2009, Chairman Victor Mullen believes that Saab “is firmly establishing itself as an independent car manufacturer”.

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China's BAIC Working with Pininfarina on Saab-based Model, Confirms Interest in the Italian Design House

Photo: BAW C71 from 2010 Beijing Show

Yesterday, we brought you photos and details about a new and very Mercedes-Benz B-Class-like model from BAIC or Beijing Automotive Industry Holding Corp. Today, we have more news on the Chinese automaker as a media report citing an unnamed executive from the company claims that BAIC is working with Italian engineering and design specialist Pininfarina on a new vehicle based on the underpinning of a previous generation Saab model.

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Saab Targets Chinese and Russian Markets, Unlikely to Develop a Diesel 9-4X

Saab has revealed plans to begin distribution to China and Russia. Deals for both countries will be signed before the end of the year, while Saab is also pondering the assembly of cars in the Far East. In other news, the Swedish maker also said that it's unlikely that we'll see a diesel-powered 9-4X any time soon.

In regards to China, Saab CEO Jan Ake Jonsson, told reporters on the sidelines of the Los Angeles Auto Show: "Until we launch the new 9-3 at the end of 2012, it will be just a couple of thousand units (annually), all based on imports. As we lead up to this, we have to make a decision if and when we are going to introduce local manufacturing in China."

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