Saab at the end of the road
Saab has finally filed for bankruptcy. Victor Muller, who has worked ceaselessly for months trying to raise funds to keep the Swedish car maker alive, had to accept defeat on December 19. The final straw was the refusal by General Motors, which sold Saab Automobile to Muller in 2010, to allow the use of its intellectual property if the firm was taken over by the Chinese car company Zhejiang Youngman.
All current Saab models, including the 9-5 introduced last year, use GM platforms and components. No cars have been made for months as Muller continually restructured and tried to refinance the company.