The Swedish automakers seem to have good future thanks to their caring government. Last year it has been announced General Motors was ready to give up 4 of its manufacturing companies, one of which was Swedish Saab. Unfortunately, there were no firms interested in the purchase of the Saab shares. Ford wanted in its turn to give up Volvo and unlike Saab, the manufacturer received response from several companies in Europe and Asia.

In the middle of December Swedish government in Stockholm approved a $3-billion financial help to be shared by Saab and Volvo: $600 million will be given as an emergency loan and the other $2.4 billion will be considered as a credit.

Saab plans to use this money to move everything back to Trollhättan, its original place of headquarters. This has to be done by the beginning of 2010. After the transfer the automaker will no longer use GM’s plants and start building 9-3, 9-5 series and 9-4X crossovers in its home city.

Volvo will find a new owner very soon. The main candidate for the purchase is the Chinese company Chang’an Auto, which has been Ford’s representative in China before. Two other Asian automakers Dongfeng and Chery have been showing interest in the purchase of Volvo’s part too, but they have not made their minds yet.

Article key :  Saab and Volvo, Swedish Government, 2009