Auto Industry
European Auto Giant Saab’s Last Resort?
Italian Fiat Group confirmed that it is in talks to buy most of General Motors’ European operations, taking another step toward creating a global automotive powerhouse – but it is unclear what this means for GM’s Swedish brand Saab.
At present Fiat is already in the process of acquiring US automaker Chrysler. On Monday, Fiat CEO Sergio Marchionne meets the German economy and foreign ministers to discuss Fiat’s offer for GM’s German unit, Opel.
GM Europe also includes the British company Vauxhall and the Swedish carmaker Saab. Saab may not be included in the deal, however. The company is being reorganized under Swedish law and is likely to be separated from the rest of GM’s European operations. (ah)
