General Motors Corp. said on Tuesday that it may sell its Swedish Saab unit. On Monday, Ford Motor Co. said it was exploring a sale of Swedish Volvo Cars. The Big Three U.S. automakers are trying to restructure in a bid to secure billions of dollars in emergency government loans.
GM and Chrysler LLC Tuesday said they could collapse by the end of the month unless they receive bailouts.
Joran Hagglund, the industry ministry official who is leading the Swedish government's talks with the auto industry, said that Sweden is considering providing loan guarantees.GM's German Adam Opel AG unit has sought similar guarantees from the German government.
Volvo Cars at the start of the year had about 24,500 employees worldwide, including 17,000 in Sweden, but in recent months has announced the loss of 4,800 jobs. Saab last year had a workforce of 4,359.
Jonsson said that GM has invested heavily in developing new models for Saab, such as a four-wheel drive 9-3X, and that the future car models can be a big hit if they are introduced when the economy is rebounding.
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