General Motors, the US automaker, on Saturday said it may block the sale of Saab to Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co.
GM will oppose the sale unless officials become satisfied it will not “negatively impact G.M.’s existing relationships in China.
“GM would not be able to support a change in the ownership of Saab which could negatively impact GM’s existing relationships in China or otherwise adversely affect GM’s interests worldwide.” spokesman Jim Cain said.
GM is Saab’s former parent company, and it was one of four brands GM opted to shed during its 2009 bankruptcy restructuring.
The two Chinese companies on Monday said they would invest €610 million ($856 million) into Saab in a bid to revitalize the company, which GM offloaded to Dutch firm Swedish Automobile (Swan), then known as Spyker, for €290 ($400) million in 2010.
General Motors still provides technology and components to Saab and builds the Saab 9-4X crossover at a plant in Mexico.
Saab’s Swedish plant hasn’t built cars since March because suppliers wouldn’t ship it parts until they get 150 million euros (about $207 million) for what they’ve already delivered.