The end of the Saab era

Today Saab has filed for bankruptcy after former owner General Motors blocked an opportunity to finance the "going under" Swedish car company and acquire a stake by Chinese investors.

The American company did not want to transfer unique technologies to the Chinese side. Debt to suppliers of automotive components (150 million euros) led to the shutdown of Saab's assembly lines in March of this year.
If the court's ruling on Saab's bankruptcy petition is favorable, it would mean the end of the famous automaker's 60-year era.
The company was established by the Swedish government in 1937 to produce fighter planes, but after World War II began designing cars . Like Volvo, Saab has gained a reputation for producing reliable cars with better design than its rival. Saab cars sold in the UK, for example, come with a 3-year or 60,000-mile warranty.

Based on foreign press for ForTrader.org