john
03-09-2001, 10:32 AM
From "The Daily Auto Insider"
GM Pumps Up Investment in Saab
General Motors is set to invest up to $507 million a year in its Saab Automobile subsidiary. The auto giant hopes to almost double volumes at Saab over the next five years, according to The Financial Times.
Peter Augustsson, president of Saab, said the investment would help to increase output from 132,000 cars last year to 230,000-250,000 by 2006.
"It's a dramatic step. You don't do this without ensuring your customer base and product range," he added. "We will start to roll out new production cars and concept vehicles later this year."
As part of that investment, Saab is developing a new premium platform, which could be shared with other GM brands and Fiat Auto, GM's Italian alliance partner. Other initiatives include new diesel-engined models and a "cross-over" sports-utility vehicle, The Financial Times said.
GM Pumps Up Investment in Saab
General Motors is set to invest up to $507 million a year in its Saab Automobile subsidiary. The auto giant hopes to almost double volumes at Saab over the next five years, according to The Financial Times.
Peter Augustsson, president of Saab, said the investment would help to increase output from 132,000 cars last year to 230,000-250,000 by 2006.
"It's a dramatic step. You don't do this without ensuring your customer base and product range," he added. "We will start to roll out new production cars and concept vehicles later this year."
As part of that investment, Saab is developing a new premium platform, which could be shared with other GM brands and Fiat Auto, GM's Italian alliance partner. Other initiatives include new diesel-engined models and a "cross-over" sports-utility vehicle, The Financial Times said.