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Saab forms joint venture with Sweden government

By SYF77 on 05 Jan 2011

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Spyker Cars NV's Saab Automobile has entered an agreement with Sweden's government to set up a venture to develop transmissions for the auto industry.

Saab and Fouriertransform AB, the government’s venture-capital firm, will create a staff strength composed of about 50 engineers from Saab’s powertrain division. The companies said that the venture to be formed in 2011, will develop transmission systems like gearboxes, for Saab and other carmakers. The new company will be called VICURA and will be based in Saab’s hometown of Trollhaettan. Saab CEO, Jan-Aake Jonsson, said that the venture will drive down the company's break-even point and improve operational efficiency as it works toward becoming a profitable, independent company.

Saab, which General Motors Co. sold to Netherlands-based Spyker in February 2010, aims to sell 30,000 to 35,000 cars this year. It aims to be profitable and to sell 120,000 cars globally by 2012. Saab presently buys its manual gearboxes from GM and its automatic transmissions from Aisin Seiko Co., a Japanese corporation which develops and produces components and systems for the automotive industry.

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SYF77
Written by SYF77
I have been a car fanatic since 1989, when my father was changing our family car then to a Toyota Corolla 1.6 GL fitted with a Twin Cam 16 valve engine that was carburetor-fed, a big deal back in those days. The automobile technology and industry fascinates me and I hope to broadcast these interesting developments to everyone out there through this blog.



 
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