Monday, 1 December 2008


Volvo and Saab ask Sweden for aid
Sunday Nov 30 2008 19:25

General Motors (NYSE:GM) and Ford Motor (NYSE:F) have approached Sweden's government about financial aid for their lossmaking Saab and Volvo brands.

GM and Ford want to bolster the two marques' finances in anticipation of selling them as the Detroit carmakers grapple with a cash crunch that threatens their survival.

Stephen Odell, Volvo's chief executive, and Saab's managing director Jan-Ake Jonsson have separately spoken to Maud Olofsson, Sweden's industry minister, and other officials about securing funds, according to several people familiar with the discussions.

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