Sweden Has No Intention to Save Saab

Although Spyker has already confirmed that it recently submitted a revised bid for taking over Saab, the Swedish unit is still at risk as General Motors is now taking the necessary steps to wind down the brand. And the biggest disappointment comes from Saab's home land, Sweden, after the local government announced that it won't help the company stay in business.

In fact, Sweden announced from the very beginning that it won't get involved in Saab's fight for survival, leaving General Motors the power of choice: either sell the company to an outside investor or try keeping it alive using its own resources. Still, GM decided to get rid of Saab entirely and confirmed last week, after failed negotiations with multiple parties, that it will kill the brand.

Swedish enterprise minister Maud Olofsson said GM's announcement is indeed sad news but emphasized that the local government has no plans to financially support Saab.

"We don't have the expertise and we don't have the money," she said. "It is very bleak. Very sad news for all of the employees and it comes at the worst possible time. I don't think GM really knows how the wind-down is going to take place, but GM has to take its responsibility," Olofsson said. "The most important thing right now is to take care of the employees and the future, how to make the most of their know-how."

Although there are some voices hinting that Chinese companies are also looking to save Saab, Spyker is the only manufacturer to have submitted a takeover proposal.

"Our efforts are based on our passion for saving an iconic brand that we would be honoured to shepherd, and the jobs and livelihoods of thousands of loyal Saab employees, suppliers and dealers around the world. Some 1,500,000 Saabs are on the road today and their proud owners would no doubt welcome the survival of this phenomenal brand," Spyker CEO Victor R. Muller said in a statement.