General Motors Co. said Monday it will not support the sale of its former Swedish car unit Saab Automobile AB to two Chinese automakers.
The move may mean the end of the struggling Swedish luxury automaker.
"Although General Motors is open to the continued supply of powertrains and other components to Saab under appropriate terms and conditions, GM will not agree to the continuation of the existing technology licenses or the continued supply of 9-4X vehicles to Saab following the proposed change in ownership as it would not be in the best interests of GM shareholders," GM spokesman Jim Cain said.
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