“We have reviewed Saab’s proposed changes regarding the sale of the company. Nothing in the proposal changes GM’s position. We are unable to support the transaction,” stated General Motors Company (NYSE:GM) spokesman Jim Cain. Earlier today GM said that they do not support a proposed deal of its former Swedish unit Saab to be sold to a Chinese consortium of companies. What this might mean is that the Saab brand may be faded out completely.

Saab is moving their new headquarters to Royal Oak, Michigan – a suburb of Detroit.  Saab is now property of Spyker but they are not too far from General Motors.  In the next four years Saab plans to hire about 160 people.  Currently they employ about 60 people.  Saab was given tax incentives from government agencies.  [egmCarTech]

Nissan Juke

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Nissan has released official images of the Nissan Juke. At the front of the Juke, there is six pairs of lights including head lamps, fog lights, and large round auxiliary lights. The interior is inspired by a fuel tank of a motorcycle too [CNET].

Kia Ray Concept

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Below is a picture of the Kia Ray, a natural gas-powered vehicle that debuted at the Chicago Auto Show. Under the glass hood is a 153 horsepower and 1.4 liter direct-injection engine [AutoMobileBlog].

Patrick Crashes GoDaddy Car In 12 Car Pileup

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In her debut at the NASCAR Nationwide race, Danica Patrick crashed the GoDaddy Chevy Impala in a 12 car pile-up.

Saab Approved For $545 Million Loan

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Saab has been approved for a $545 million loan. “We are extremely pleased with the decision by the EIB as this was a crucial component in enabling the acquisition of Saab to proceed. Months of hard work have paid off, said Victor Muller, Spyker’s CEO. “We cannot wait to close this transaction now as soon as practically possible. We extend our gratitude to the EIB officials who have worked relentlessly to make this happen.” [eGMcarTech]

Musk Flying Around In Private Jet

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Tesla Motors CEO Elon Musk flew his private jet to Washington D.C. over 12 times since last year according to Autospies. Some of these trips were intended to request government public financing. This is ironic because GM, Chrysler, and Ford executives were heavily criticized by members of Congress for doing the same thing. Musk flew in a Dassault Falcon 900 and landed in Washington in mid-June of 2009. Around that time is when Tesla was given a $465 million loan from the DoE. Tesla is planning to raise an additional $100 million in an IPO. [AutoSpies]

Even though General Motors made a deal with Beijing Automotive Industry Holding earlier this month, the Detroit based automotive company will shut down Saab, a Sweden based subsidiary. The decision was finalized even though Spyker made a renewed bid for Saab.

“Saab’s board had a short meeting yesterday. GM representatives were on the phone from the US. And the discussions were entirely about the shutting down Saab — not about the new bid,” stated Svenska Dagbladet (SVD). “The word (at the meeting) was to shut down Saab and that is what we have started working on.” Shutting down the brand could take several years. Sweden Enterprise Minister Maud Olofsson said that they plan to help Saab’s employees by providing them with public funding of 542 million kronor ($72 million).

Beijing Automotive Industry Holding has struck a tentative agreement to produce several models of Saab vehicles. Beijing Automotive will be allowed to make older versions of the Saab 9-3 and 9-5 in China. Beijing Automotive will not be allowed to prevent any separate deal that General Motors decides to make for Saab.

However the employment possibilities of 3,500 workers in Sweden is still a big question mark. GM was close to selling Saab to Koenigsegg last month but the deal fell through. Beijing Automotive’s deal with Saab “would be good for Sweden, good for China and good for Saab,” according to a Saab spokesperson.

GM is still negotiating with other Saab buyers such as Renco and Spyker Cars. GM bought a majority of Saab for $600 million in 1990. Then bought the rest of the company for $125 million in 2000.