GM Delays Saab Verdict, New Bidders Join the Race

Saab's future is surely the most interesting subject in the whole automotive industry these days, mostly "thanks" to General Motors who can't decide whether to shut down the brand or sell it to a separate investor. Up until now, most stories that surfaced in global media were based on rumors, as all those involved in the matter have been extremely quiet on the subject.

The final decision was projected to be made on January 7 but it appears that the US-based manufacturer delayed the verdict as new interested parties revealed their intentions to buy Saab. Obviously, no names have been confirmed but, if we are to go the rumor way one more time, Genii Capital - who recently purchased Renault's Formula 1 team - is now looking into ways to take control of Saab.

Bloomberg writes that GM's board will meet today, so a decision will most likely emerge shortly.

Curiously, Ed Whitacre, who's now serving as interim GM CEO, recently expressed his opinion on the matter and said that Saab has slim chances to stay in business. Furthermore, he revealed one of the conditions to keep Saab alive: "It's real easy – show up with the money and you can have it."

Well, it appears that Genii Capital, and his new partner Bernie Ecclestone, have the money to buy Saab but, once again, we're still waiting to find out whether their offer fits GMs requirements.

"Genii Capital believes that the automotive industry will see - as expected - strong developments in energy efficiency, safety systems but also in the area of on board entertainment systems including technologies that enable use on demand systems as well as innovative communications platforms such as VOIP and GPS location based services. All of these areas being at the core of Genii Capital investment focus," Genii Capital said in a statement confirming the interest for Saab.