• The Detroit Bureau , Wednesday, November 9, 2011 10 AM

Swedish Automobile CEO Victor Muller said Saab would have to go back to the drawing board after General Motors rejected its proposed rescue plan where it would be sold to Chinese investors Pang Da and Youngman Lotus.

 Court-appointed administrator Guy Lofalk said GM’s decision may just be one bump in the road as negotiators try to find a solution to save the automaker. GM owns shares of Saab and supplies the automaker with powertrains as well as the Saab 9-4x crossover that it builds alongside the Cadillac SRX in Ramos Arizpe, Mexico. The automaker offered to continue to supply Saab if the company paid $500 million to the Detroit automaker.

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