Saab being pimped around the world by Victor Muller

Swedish Radio has just announced that the agreement between Saab and Hawtai has been suspended and negotiations continue!!!

I have little confidence in Victor Muller and his jet-setting around the world – at Saab’s expense – ostensibly to save Saab, seems more and more like the acts of a charlatan. I have observed earlier that his high-profile chasing of Russian and Chinese money will probably lead nowhere except to prolong the agony for Saab.

Svenska Dagbladet writes:

Saab’s new commercial venture with Chinese Hawtai is at risk of collapse. Saab’s President Victor Muller has already started planning to go to China for new negotiations with previously upset Chinese automakers. But Chinese car companies feel themselves cheated by Muller.

After Hawtai’s delegation visited Saab factory in Trollhättan at the end of last week they were  aghast at how bad the situation was. They then demanded tough renegotiations with Victor Muller. If Hawtai and Saab cannot agree before the deadline for the contract expires tomorrow the deal may be over. 

According to SvD’s industry sources, the agreement between Dutch Spyker, which owns Saab, and Hawtai is only a framework agreement. The agreement that was presented with great fanfare on 3rd May is full of ecape clauses that Hawtai can use if the parties fail to agree. Now Saab’s President Victor Muller is preparing to travel to Beijing. He will try to repair bridges with Chinese companies he has previously been in conflict with. Two relevant companies are the Great Wall Motor company and the government car giant BAIC. … Neither Great Wall nor BAIC have any affection for Muller. “BAIC can consider buying Saab, but they do not like Muller, they know that he has deceived them”, says a key figure in the affair. … BAIC believed they had the rights to the Saab 9-3 when Saab announced that they intended to produce in China with Hawtai. Until mid-April BAIC negotiated for the Saab dealership in China. And till April 30th Great Wall negotiated with Saab. Great Wall is a large and successful private Chinese automaker. But the negotiations ended because Great Wall needed at least one more week to do a due diligence and to have a board meeting, which Muller felt that the bleeding Saab did not have time for. Three days later, on May 3, he presented the Hawtai agreement. Great Wall reacted very negatively and it was not alone. Even private automaker Youngman Automobile Group of Hangzhou reacted sharply. “We were extremely disappointed and upset”, said one of Youngman’s management team . “ We have a written contract with Spyker that they could not negotiate with any other Chinese company before we were done. We took it for granted that they would follow the rules”. 

Spyker had had negotiations ongoing with at least three other Chinese companies, Great Wall, Hawtai and another company. Youngman says they began negotiations for Saab in January. They also signed a letter of intent on cooperation. Youngman Automobile is the only company that has already submitted an application for Saab and an investment permit to the Chinese National Reform and Development Commission, NDRC. 

Victor Muller clearly cannot be trusted and his ethics are highly suspect.

Tags: China, Hawtai, SAAB, Spyker Cars, Victor Muller