US carmaking giant General Motors (GM) has to present more detailed business plans before the Swedish government is prepared to offer credit guarantees for GM's troubled Swedish subsidiary Saab, reports said Tuesday.
"We have regular meetings and discussions with GM and Saab. We have asked for clarifications and better facts," State Secretary Joran Hagglund at the Ministry of Enterprise told Swedish radio news.
The Swedish government wants "more credible business plans that describe developments a few years ahead based on scenarios where sales continue to drop and measures to counter that," Hagglund added.
Hagglund said the size of the possible loan guarantees also hinged on talks GM and Saab were engaged in with the European Investment Bank, reported dpa
General Motors took full control of Saab - one of Europe's smallest carmakers - in 2000.
In December, the Swedish government launched a 28-billion-kronor (3.4-billion-dollar) package aimed at securing the long-term viability of Swedish-based vehicle makers.
It included funds for a research and development centre as well as credit guarantees and rescue loans. However, the government is anxious to ensure that state funds do not end up abroad.