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May 24, 2012
Official: Sweden won't own Saab or Volvo
Published: 13 Jan 09 06:27 CET | Double click on a word to get a translation
Online: http://www.thelocal.se/16872/20090113/
After meetings with executives from General Motors and Ford at the Detroit auto show Monday, a Swedish government official reiterated that the state had no intention of buying Saab and Volvo.
- Car industry aid sparks heated debate (18 Dec 08)
- Sweden to launch car industry aid package (11 Dec 08)
- Engineers: 'merge Volvo and Saab' (10 Dec 08)
"General Motors and Ford must take their responsibility to secure the activities of Saab and Volvo," he added.
Hägglund called the meetings "positive" however, welcoming the "common interest concerning the future of Saab and Volvo."
Both GM and Ford are "very committed" to working "in close cooperation with the Swedish government and that is very good," he told reporters.
"We are from both sides very committed to keep both sides updated: from the governmental side what actions are taken in Sweden and from their side what they are doing now and the possible different solutions."
The conversation was focused on a potential aid packaged for Volvo and Saab and the strategic review the US automakers are currently undertaking of their Swedish brands.
Hägglund said that the government ought to decide within two weeks the rules for a state program to help the auto sector, which would include guarantees for loans from the European Investment Bank of 20 billion kronor ($3 billion) and emergency aid of 5 billion kronor.
The European Investment Bank could make a decision by the beginning of March, he added.
To obtain this aid, the companies have to present "accountable" long-term business plans.
"The owners realized that because of the fact that the Swedish government is putting 25 billion Swedish crowns on the table, their interest is to keep us well informed also about the selling process, if that will be the case," he said.
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