Saab, Automaker | featured news

A Hong Kong-owned company says it has completed the acquisition of bankrupt car maker Saab and will move ahead with its business plan to make electric cars under the Swedish brand.

Dutch sportscar maker Spyker is suing General Motors for $3 billion on behalf of its subsidiary Saab, accusing the U.S. automaker of deliberately bankrupting the Swedish group by blocking a deal with a Chinese investor.

Saab Automobile left behind debts of $2 billion backed by assets of just $500 million, a final indication of the scale of the defunct company's collapse last December.

Swedish car maker Saab Automobile must pay its workers within 14 days to avoid bankruptcy, the general counsel at labor union Unionen said after the cash-starved company failed to pay employees on time.

With a narrow, though loyal, customer base, Saab has proved too small to lure the world’s big automakers.

General Motors Co. says a Swedish specialty car maker has ended plans to buy GM's Saab brand....