Saab ’s six possible suitors have been whittled down to “three or four” serious bidders, with one of those possible buyers being identified as China’s Geely Automobile Holdings Ltd. General Motors says it plans on selling the Saab brand by the end of the year.
A source familiar with the situation revealed to The Wall Street Journal that Geely is one of “three to four” serious bidders vying for Saab. Geely is reportedly the only Chinese automaker left bidding for Saab.
Geely executives visited Saab ’s Trollhattan headquarters in recent weeks, followed quickly by a bid for the Swedish automaker. Geely has already entered a bid for Ford Volvo Swedish division.
Although a Geely purchase would keep the brand alive, the Swedish government and Saab workers aren’t overly excited about the prospect. In order to take advantage of cheaper labor rates, Geely would move some – if not all – Saab production to China, according to The Wall Street Journal. However, there has been talk of the Swedish government offering incentives for Saab’s new owner to keep production in country.
