BBC report
General Motors has reached a tentative agreement to sell Saab to the Swedish sports car manufacturer Koenigsegg.
GM said that as part of the deal there would be $600m (£367m) of funding from the European Investment Bank (EIB), guaranteed by the Swedish government.
It is the latest part of GM's reorganisation, which is also set to see the Opel and Vauxhall brands going to Canada's Magna.
Saab filed for reorganisation under Swedish law on 20 February.
Koenigsegg produces 18 cars a year and employs 45 people, and there has been some doubt as to whether it has the expertise to run Saab, which sold 93,000 cars in 2008.
Saab employs about 3,400 people in Sweden and about 12,000 other jobs in the country are dependent on Saab and its suppliers.
But GM Europe's president Carl-Peter Forster said: "Koenigsegg Group's unique combination of innovation, entrepreneurial spirit and financial strength... made it the right choice for Saab as well as for General Motors
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Interesting Times Ahead For Saab?
#2
Posted 16 June 2009 - 11:47 AM
Thats actually not a bad move. Will be interesting to see how it works out, and I do hope it works. I know Saabs have a bit of an image problem at times, so this could result in some interesting designs - something that is def needed on the interiors
Matt and Tiggr
"i have seen things you people couldn't believe; attack ships off the shoulder of orion. I watched c-beams at the tannhauser gate. all these things will be lost in time....like tears in the rain........
Time....to...die........"
#3
Posted 16 June 2009 - 11:50 AM
Well, I always wanted a SAAB from being about 16 years old, they were different, they did things the way they wanted, and didn't just copy the other mainstream manufacturers.
I was disappointed when GM seemed to be making them a bit more 'normal', but it brought them into the public eye a bit more.
Good luck to them.
I was disappointed when GM seemed to be making them a bit more 'normal', but it brought them into the public eye a bit more.
Good luck to them.
PUMASPARKY
#4
Posted 16 June 2009 - 11:53 AM
Bit like when you look at some jags, to realise that its only a mondeo in a fancy frock....
Matt and Tiggr
"i have seen things you people couldn't believe; attack ships off the shoulder of orion. I watched c-beams at the tannhauser gate. all these things will be lost in time....like tears in the rain........
Time....to...die........"
#5
Posted 16 June 2009 - 01:55 PM
Can only be good news, being as SAAB has been stuck making cars based on ancient Vauxhall cast offs. Let's see some genuine individuality like the old 99 and the original turbos.
2006 - 2008 Ford Puma 1.7 Lux | 2008 - 2010 Ford Racing Puma #0013 | 2010 - 2012 Mini Cooper S | 2012 - ? RenaultSport Clio 182 Cup
#6
Posted 28 January 2010 - 07:41 AM
It looks like SAAB may be being thrown a lifejacket.
http://www.autoexpre...25677d594e6638d
Saab has been saved from the scrap heap!
On Tuesday Dutch supercar maker Spyker confirmed it had completed a deal to buy the ailing Swedish marque from owner General Motors.
The American group had been in talks with Swedish company Koenigsegg until late last year when the deal fell through. Spyker was one of three potential saviours, including one backed by Formula One supremo Bernie Ecclestone, to step in after the original deal fell through.
Always a favourite of owner GM, the Dutch company has closely followed the proposed business plan laid out by Koenigsegg, which will allow Saab to become profitable with annual sales of less than 100,000 units.
The sale still requires a loan from the European Investment Bank, and Swedish government approval, but early indications are good. Spyker intends to form a new company, Saab Spyker Automobiles and will pay GM £47 million. General Motors will retain over £250 million in Saab liquidity and preferred shares of the new venture.
Saab managing director Jan Ake Jonsson will return to his post as liquidators are immediately instructed to step down. The next generation 9-5 and current 9-3, including the convertible, are to be manufactured in the brand’s hometown factory of Trollhattan while an agreement has been reached for the forthcoming 9-4X to be built at GM’s Mexico factory.
It is expected that the transaction will be finalised next month at which point the real challenge for the iconic Swedish brand will just be beginning.
http://www.autoexpre...25677d594e6638d
Saab has been saved from the scrap heap!
On Tuesday Dutch supercar maker Spyker confirmed it had completed a deal to buy the ailing Swedish marque from owner General Motors.
The American group had been in talks with Swedish company Koenigsegg until late last year when the deal fell through. Spyker was one of three potential saviours, including one backed by Formula One supremo Bernie Ecclestone, to step in after the original deal fell through.
Always a favourite of owner GM, the Dutch company has closely followed the proposed business plan laid out by Koenigsegg, which will allow Saab to become profitable with annual sales of less than 100,000 units.
The sale still requires a loan from the European Investment Bank, and Swedish government approval, but early indications are good. Spyker intends to form a new company, Saab Spyker Automobiles and will pay GM £47 million. General Motors will retain over £250 million in Saab liquidity and preferred shares of the new venture.
Saab managing director Jan Ake Jonsson will return to his post as liquidators are immediately instructed to step down. The next generation 9-5 and current 9-3, including the convertible, are to be manufactured in the brand’s hometown factory of Trollhattan while an agreement has been reached for the forthcoming 9-4X to be built at GM’s Mexico factory.
It is expected that the transaction will be finalised next month at which point the real challenge for the iconic Swedish brand will just be beginning.
PUMASPARKY
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