When the dust finally settles, history will find that no single event or decision was responsible for the bankruptcy of Saab. Former parent Spyker sees things a bit differently, however, and blames the Swedish automaker’s demise squarely on GM. Specifically, Spyker believes that GM’s refusal to permit a sale to Chinese suitor Youngman ultimately led to Saab’s bankruptcy.
To prove its point, Spyker has filed a $3 billion lawsuit against GM, alleging that it blocked the sale of Saab to Youngman to protect its own interests in China with partner SAIC. That’s clear enough, but here’s where it gets a bit hazy: Spyker no longer owns Saab, which was sold to electric vehicle consortium NEV in June. In exchange for representing Saab in court (and fielding its legal expenses), Spyker has been promised a “very substantial” piece of the new Saab.
Where NEV fits in the picture is anyone’s guess. In fact, just three days ago Saabs United (via Autoblog) reported that the NEV deal to buy Saab had been delayed. Could this be related to the pending litigation? Possibly, but NEV isn’t saying.
As for Spyker’s lawsuit, filed in Michigan, it’s a long shot, at best. We doubt that any court (especially one in Michigan) will find malice or negligence in GM’s actions, which were intended to protect its interests in China. Spyker’s CEO, Victor Muller, may be expecting Saab to go out with a bang, but we expect it will be more of a whimper.
Kurt Ernst has been passionate about automobiles and driving nearly his entire life. His early years were shaped working in the family service station, though his real passion was auto racing. After graduating from the University of Colorado, Kurt spent a year club racing with the Sports Car Club of America, before focusing on a business career in marketing and project management. Later, his passion for writing and the automotive hobby found him freelancing for a variety of automotive news sites, including Automotive Addicts and Motor Authority, where his work was syndicated and appeared in several national publications. Recognized as an expert in the automotive field, Kurt joined Hemmings Motor News as an Associate Editor in 2013, and in the years since has progressed to Editor, Hemmings Daily; Managing Editor for Hemmings Motor News, Hemmings Classic Car, Hemmings Muscle Machines, and the Hemmings Daily; and now, Managing Editor, Hemmings Auctions. Kurt was instrumental in organizing the Hemmings Motor News Concours d’Elegance from 2013-2019, and has served as a judge at this event and The Vintage Racing Stable Concours d’Elegance. A Skip Barber Racing School graduate and prolific writer, Ernst is also skilled in copyediting, project management, brand development, and public relations.
