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When did GM buy Saab?
Growing up I remember hearing about Saab being purchased by General Motors, but I don’t remember when it happened or if they still own the company. When did GM buy Saab?
Andrew Biro · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Great question! While
GM
doesn’t own Saab Automobile AB
anymore. It owned 50% of the company’s stakes in 1998 and officially acquired the other 50% in 2000, thereby transferring ownership to General Motors. After 10 years of ownership, GM would go on to sell Saab to Spyker Cars N.V.**—a Dutch automobile manufacturer—in **2010.This would not, however, be the final time GM meddled in the affairs of Saab Automobile AB—in 2011, the motor company blocked a purchase of Saab by a Chinese consortium, after which Saab was forced to file for bankruptcy.
Fortunately, Saab’s bankrupt estate was bought in 2012 by the National Electric Vehicle Sweden (NEVS) company, which continued to produce vehicles under the Saab name until losing the license in 2014.
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- Gregory R.
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