Great Wall Motors denies Saab talks

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Filed under: China, Europe, Saab, Earnings/Financials

According to The Detroit News, Chinese automaker Great Wall has made it clear that the company has not been in talks with Saab over a potential partnership. After word trickled down that a $233-million deal between the Swedish automaker's parent company, Spyker, and Hawtai Motor Group imploded, rumors of various other Chinese suitors have cropped up in a serious fashion.



Spyker said that Hawtai was forced to back out of the arrangement due to the company's inability to obtain proper government consent, while Hawtai denied those claims. Instead, the Chinese automaker said that claim in a statement by saying that the true issues were commercial and economic realities.



Meanwhile, both BAIC and China Youngman Automobile Group have said that they aren't in negotiations with either Spyker or Saab at this time. The Detroit News reports that BAIC recently bought the rights to some Saab technology, though the automaker said that no further discussions had been made about the future of the relationship between the two organizations.

Great Wall Motors denies Saab talks originally appeared on Autoblog on Fri, 13 May 2011 14:30:00 EST. Please see our terms for use of feeds.

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