Saab to be closed by GM

18th December 2009

The Spyker deal had to be completed before the year end - but basically they ran out of time to secure funding:

Spyker Chief Executive Victor Muller said GM declined to extend the deadline, adding that his company had lined up most of the required funding but was awaiting approval for EUR400 million in backing from the European Investment Bank.

GM claimed that extending the deadline would not have helped complete the deal.

Swedes are obviously dissappointed - their car industry has more or less become extinct as Volvo look as they could be sold to - Zhejiang Geely Holding Group Co., a privately-owned Chinese car maker.

Saab employs 3,400 workers globally and had 1,100 dealers. Anyway enclose some videos of some of their more outlandish motorsport projects.

Pikes Peak Per Eklund 850 Bhp SAAB rallycross in-car

Pikes Peak Per Eklund 850 Bhp SAAB rallycross - bit of external stuff as well - nice vid

Rockingham testing available - 3rd August

29th July 2010

Kimi Raikkonen Finnish Rally preview

28th July 2010

Maddern Racing win in Minnesota

15th July 2010

Ferrari race car staff required by Modena Group

9th July 2010

Legends in time launch Stirling Moss watch

8th July 2010

Charles Bateman - Porsche Carrera Cup - new site

23rd June 2010

Tom Chilton - BTCC driver web site

15th June 2010

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