Luxury Sedan Service

Saab, Amid Crisis, Announces New Models

In the midst of seemingly intractable financial troubles, Saab is going on the offensive, announcing a trio of new models it intends to develop through a joint venture with Zhejiang Youngman Lotus Automobile, one of its two new Chinese partners.

Two of the cars, the 9-6X and 9-7, are aimed at the Chinese market, said a spokeswoman, Michele Tinson, in a telephone interview, but a third, the 9-1, is a new entry-level Saab to be sold internationally. Ms. Tinson said that the “X” in the 9-6X model name “typically stands for crossover,” though she declined to confirm if the convention applied in the case of the 9-6X. Nothing has been disclosed about the 9-7, though given its numerical placement above the 9-5 midsize sedan, it may be a larger luxury sedan, which are commonly put into service by Chinese executives as chauffeured limousines.

Saab is in no position to develop and introduce new models as it awaits regulatory approvals for various deals. Even so, the product announcement projected a company assured of its survival.

“Car companies are like sharks: if they’re not moving forward, then they die,” said Jack Nerad, an analyst with Kelley Blue Book, in a telephone interview. “Saab has to keep cars in the product pipeline or it has no hope of survival.”

The company’s restive workers have been paid with proceeds of the sale of 582 Saabs, a deal worth 13 million euros, or $18.7 million, to an undisclosed Chinese automaker, Ms. Tinson added. Saab also has secured further short-term financing from a 25 million euro bridge loan administered through Gemini, an investment fund. The Swedish factory remained shut down, though Ms. Tinson said the automaker hoped to reopen before a planned two-week summer work break this month.

For all the brand’s headaches, its position is less precarious than it was in early May, when a deal with Hawtai Motor Group that would have injected 150 million euros collapsed.

In a statement, Victor Muller , Saab chairman and chief executive of its parent company, said of the 9-1 that a small Saab “has long been on the top of our wish list.” Saab has created a design for a 9-2, reportedly inspired by streamlined models from the 1940s like the 92 and the Ursaab, but it has not been approved for production. A new 9-3, designed by Jason Castriota and built on the same platform that underpinned Mr. Castriota’s PhoeniX concept , is scheduled to appear as a 2013 model, Ms. Tinson said.

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