We knew something was going on when a Swedish newspaper reported that Volvo was looking into purchasing Saab from Spyker, but the deal didn’t exactly go down like they had stated. Volvo won’t be purchasing the Swedish automaker, but as of June 15, 2011, the Spyker/Saab pair will now be known as Swedish Automobile N.V. (SWAN) after both companies were purchased by the Chinese Pang Da Automobile (Pang Da). Pang Da gave Spyker new life by filling its veins with a €65 million investment for a 24 percent stake in the company.
In a previous statement, Victor Muller, CEO Spyker Cars and Saab Automobile, said: "Based on our discussions with Pang Da we are confident about the possibility of Pang Da obtain regulatory approvals necessary to formalize the transaction. I am very eager to create a solid company with Pang Da, first in the distribution and subsequently in the manufacture of Saab cars in China. It must be stressed that the prepayment Pang Da and sales of Saab cars imported are not subject to approval by the NDRC. The first advance of 30 million has been received by Saab on Tuesday."
In a perfect world, Saab wouldn’t be embroiled in the mess that they’re in, having to fight for their automotive life while struggling to even hang on by a thread. Unfortunately, the real world is far more brutal than that and for the past few years, Saab has teetered the precarious line of living to sell another day and permanently closing shop.
It’s this sad reality that makes us feel bad, especially when we know the prospects of what Saab could be if they were as fit, healthy, and spry as other automakers. This particular concept study, an amalgamation between Saab and Nespresso designs, comes from the mind of student Eric Leong from Umea University. A Saab sponsored-project, Leong wanted to design a car that takes its inspiration from a non-automotive source: Nespresso, a Nestle-owned company that sells espresso machines, of all things.
The creative young student mixed the design elements and characteristics found on coupes, hatchbacks, and pick-ups while also keeping to mind Saab styling cues, including the aviation-inspired elements, the ’hockey-stick’ C-pillar, a wraparound DLO, and a roofline design that looks similar to the Saab 9-X BioHybrid Concept.
Nespresso-inspired elements on the car can be traced to the rear end with its flexible, dual storage compartment. Likewise, the car was designed with top deck panels with cushions serving as substitute materials to create an open-air, social environment. Incidentally, the same 9-X BioHybrid Concept-inspired roof is covered with solar panels that serves the quizzical purpose of powering the owner’s house when the car is parked.
While we’re not certain as to how that last part works, the whole design of the Saab Nespresso study does give us an indication of what the future would be like if the Swedish brand stood on safer ground.
Saab may be on the short stick – again - as far as their future is concerned, but some of their models still find a way to make the news and try to move the spotlight away from their tumultuous future into something a little more optimistic.
In this case, the question has to be posed: who knew that you could take a Saab 9-3, strip it down to its bare essentials, build the whole puzzle back together, and fit in an 8.4-liter V10 engine that comes courtesy of a Dodge Viper SRT10?
You read that whole paragraph right, folks. The word’s ‘Saab’ and ‘SRT’ are coming together for a very revealing customer project. The final model, which is being called the ‘9-3 SRT10 MegaPower’, came from the mind of one Zaccho Pelle, who wanted nothing more than to turn his Saab 9-3 Estate from an otherwise mundane wagon into a Viper SRT10-powered, 600-horsepower piece of automotive madness.
Full details on the Saab 9-3 SRT10 MegaPower after the jump.
Full story
Volvo and Saab have long since been rivals in the automotive industry. Recent years have seen a decline in this competition, but the two still share much in common. After General Motors was finished running Saab into the ground by making re-branded Chevrolets with their nameplate, it was sold off. One of the most unique companies in the world, Spyker, bought Saab and has been running it since 2010.
Earlier today a Swedish newspaper has reported that Volvo in conjunction with the Swedish government were in talks about buying Saab. Volvo spokesman Per-Ake Froberg said, “No such talks have been going on and no such talks are scheduled.” The idea of this merger is rather interesting and has several implications on capital markets.
The De Telegraaf newspaper mentions that the Swedish government would like Volvo to take over Saab because that would mean a greater chance that a loan from the European Investment Bank (EIB) granted to Saab, which was guaranteed by Sweden, would be repaid. This type of acquisition would also help Saab deal with its cash problem. Spyker had its 2010 sales fall below forecasts and has therefore struggled to pay suppliers. Sweden has also come to the rescue here by approving financing to help get production on the move once more.
The Swedish government is not the only player in this transaction seeing as China is essentially the owner of Volvo. Geely Automotive Holdings took over the Volvo brand after its sale from Ford. This acquisition was the largest of any automaker by China. You may also remember the acquisition of the Hummer brand, but that paled in comparison to this. The Saab CEO, Victor Muller, has said, “the Swedish carmaker is negotiating with a wide range of Chinese car makers about a tie up.” It will be interesting to see how this situation plays out and whether these two monikers can rise from the ashes of their U.S. ownership and become profitable once again
Shortly after becoming the official supplier for ECU upgrades, aero kits, brakes, exhaust systems, and a few other modifications for Saab models on the US market, Hirsch Performance is getting to work with the beginning of what we’re sure will be a long list of tuning projects for the Swedish automaker. The first project unveiled was the 9-3 models shown at the Chicago Auto Show, and the next is this tuning package provided for the 9-5.
The name for the package comes straight out of the power behind it. Hirsch Performance has taken the 2.0T Turbo4 engine found in the Saab and equipped it with direct injection, a modern twin scroll turbocharger, and improved charge cooling. The result is a total output of 260 HP and a peak torque of 295 lbs-ft. Thanks to the twin scroll technology, the throttle response is also significantly faster. The 40 HP increase is accompanied by a new top speed of 155 mph.
The price for this upgrade is $1350 and can be applied to any of the models with front wheel drive and XWD, manual and automatic transmissions.
