GM to Extend Saab Deadline, Spyker Boss Still Hopeful

General Motors was expected to make a decision on Saab by December 31 but the latest rumors on the matter are claiming that the US giant is getting ready to extend the deadline as negotiations with Spyker continue. Citing Saab board member Paul Aakerlund, Bloomberg News reported that GM is ready to continue negotiations even before December 31 in case there's an interesting bid for the Swedish unit and temporarily delay winding down the brand.

Following these rumors, Victor Muller, CEO of Saab bidder Spyker Cars, expressed its confidence that he could reach a deal with General Motors and revealed that a decision is to be made in a few days.

"I am very hopeful, I have been from the start," Muller was quoted as saying on Monday in Swedish daily newspaper Svenska Dagbladet. "We have done all we possibly can. Given that (GM's) deadline is December 31, I really expect they will be in contact soon," Muller added.

GM announced in early December that Saab is going to be scrapped after Koenigsegg decided to pull out of the deal due to still unknown issues. However, the company imposed a December 31 deadline to wait for other bids from different parties.

"The Board will evaluate potential bids between now and the end of December. At that time, we will determine whether a suitable arrangement for Saab exists. If not, we will begin an orderly wind down of the global Saab business at that time. Due to non-disclosure agreements, we will not confirm or comment on any potential transactions or other matters unless, and until, we determine that disclosure is appropriate," GM said in a statement at that time.
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About the author: Bogdan Popa
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Bogdan keeps an eye on how technology is taking over the car world. His long-term goals are buying an 18-wheeler because he needs more space for his kid’s toys, and convincing Google and Apple that Android Auto and CarPlay deserve at least as much attention as their phones.
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