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UPDATE 1-Saab says too early to talk new car with Volvo
October 7, 2010 / 10:41 AM / in 7 years

UPDATE 1-Saab says too early to talk new car with Volvo

* Volvo interested in possible co-operation -paper

* Saab says too early to talk about new car partnership

* Spyker shares down 1.5 pct

(Recasts with Saab comments, adds shares, background)

STOCKHOLM/AMSTERDAM, Oct 7 (Reuters) - Swedish car brand Saab said on Thursday it was too early to talk about a possible co-operation with Volvo Cars on producing a new model, pouring cold water on reported interest from its domestic rival.

Swedish business daily Dagens Industri had earlier reported that carmaker Volvo Cars, recently bought by China’s Zhejiang Geely (0175.HK), was interested in cooperating with domestic rival Saab in soft-top model cars.

The newspaper had cited Volvo spokesman Olle Axelson, who later told Reuters that Volvo had had no actual discussions with Saab over product development, though the firm was always open to discussions with other car makers.

“Our priority number one ... is China operations right now,” Axelson said.

“There are absolutely no discussions and have never been any discussions on the executive level at Volvo to cooperate around product development with Saab.”

Saab Nederland spokesman Dick Braakhekke said it was too early to talk about whether Saab and Volvo Cars would work on a new model together.

“There are talks on various levels, but I‘m not aware of whether talks are on a product level. It’s too early to say whether Saab and Volvo would work on a new car,” he said.

Braakhekke said Saab was in talks with Volvo Cars about parts delivery and the pick-up of cars at the factory. Saab is also talking to other manufacturers, he said.

Both companies have new owners after Dutch sports car firm Spyker Cars SPYKR.AS bought Saab earlier this year, and both are looking at ways to boost sales and make production more efficient.

Spyker Cars shares were down 1.67 percent at 3.89 euros at 1034 GMT in a flat Amsterdam market. (Reporting by Stockholm and Amsterdam newsrooms) (Editing by Dan Lalor and Hans Peters)

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