Genral Motors may sell separate assets of loss-making Saab to China’s Beijing Automotive – and then shutter the brand.

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The future of the legendary Swedish carmaker Saab topped the agenda at General Motor’s board of directors two-day meeting that kicked off late Monday evening. It doesn’t look good for the troubled company.

According to people familiar with the discussions Saab’s best options is that pieces, such as vehicle technology, will be sold to Chinese auto maker, international newswires wrote.

Saab’s chief executive officer Jan Åke Jonsson and State Secretary Jöran Hägglund of the Swedish Ministry of Enterprise met with the board Monday in a last attempt to save the company from being shut down. Although the duo didn’t have any concrete decisions to deliver they tried to put on a happy face.

“Absolutely! Absolutely. We were all caught unawares when Koenigsegg jumped off last week. But both myself and the government and GM are working very hard to find an alternative, a quick solution,” Jan Åke Jonsson told the TT news agency.

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Last Updated (Tuesday, 01 December 2009 11:32)

 
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