The memorandum of understanding between Saab and its Chinese investors expired today

Saab’s future is no closer to being resolved even though the memorandum of understanding (MOU) between the Swedish car firm’s owner, Swan, and Chinese investors Pang Da and Youngman expired today.

The MOU was signed by the three parties on October 28 to underpin Swan’s agreement to sell 100 per cent of Saab Automobile to Pang Da and Youngman for £86m.

That deal hit a snag when General Motors, which has to approve any Saab sale, said it would not accept the sale of the car maker as it was laid out in the MOU.

GM, which has powertrain supply and technology licensing agreements with Saab, said the proposed change of ownership would not be in the best interests of GM shareholders.

Although the MOU has run out, it doesn’t necessarily spell the end of the deal. According to Saab sources, Swan, Pang Da and Youngman have all indicated that they are keen to pursue the deal and are trying to come up with a settlement that GM is happy with.

See all the latest Saab reviews, news and video

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Car review
    23 September 2016
    Aston kicks off its ‘second century plan’ with an all-new turbo V12 grand tourer
  • Ford Ka+ 1.2 Ti-VCT 85
    First Drive
    22 September 2016
    A rounded, refined and well-sorted bargain supermini – once you’re used to the confusing role redefinition imposed on the once-cheeky Ka
  •  Maserati Ghibli Diesel
    First Drive
    22 September 2016
    Maserati releases another range of updates for its range best seller, the Ghibli. We've driven the diesel version, but there's little improvement on before
  • Tipo Front
    First Drive
    21 September 2016
    New Fiat Tipo offers impressive space and practicality for a reasonable price. We try the 1.6 diesel on the demanding roads of North Wales
  • Seat Ateca 1.4 TSI 150
    First Drive
    20 September 2016
    The Seat Ateca 1.4 TSI 150 makes perfect sense: it's spacious, tidy to drive for an SUV and cheap to run