Saab-Koenigsegg OFF
November 24th, 2009 by Richard Aucock
SUPERCAR maker Koenigsegg has pulled out of a deal to save Saab, leaving the brand’s future in doubt.
The Swedish maker of high-performance motors agreed to buy Saab from GM in August.
Things were delayed when the European Investment Bank didn’t immediately offer to guarantee at €400 million loan. This did gain approval a month ago.
But it still ran out of time, said boss Christian von Koenigsegg.
‘Time always played a critical factor in our strategy for reviving the company,’ he said in a statement.
‘Unfortunately, delays in closing this acquisition have resulted in risks and uncertainties that prevent us from successfully implementing the new Saab business plan.’
GM had in the past said it would close Saab by the end of the year if it did not find a buyer. Where that leaves the ailing Swedish firm now remains in doubt.
Things had been looking up, after the successful unveiling of the new 9-5. But now what?
Tags: GM, koenigsegg, saab