Saab sale to supercar firm
August 18th, 2009 by Richard Aucock
SAAB is to be bought in its entirety by Swedish supercar maker Koenigsegg, securing the future of the brand.
The deal, signed today, will be completed by the end of the year – and means that Saab can shortly exit ‘legal reorganisation’.
This is a form of bankruptcy, that has seen Saab protected by the state while a buyer for the former GM firm was sought.
The deal depends on the Swedish Government meeting financial promises, and GM helping Saab turn into an independent car maker.
As part of this, GM and Saab will continue to share engines and technology, for a tightly-defined time period. It means the vital new Saab 9-5 can be launched without delay.
GM Europe president Carl-Peter Forster reckoned the deal was good for all concerned. ‘Saab’s great cars, its unique design, safety and engine-technology, as well as its excellent brand image, combined with Koenigsegg Group’s unique combination of innovation and entrepreneurial spirit, bode well for a successful future for the brand.’
Christian von Koenigsegg, CEO of Koenigsegg, said ‘our plan is to transform Saab into a stand-alone, vibrant, entrepreneurial company – and make it ‘sustainable’ by making it profitable.
‘We will revive Saab’s Swedish heritage of ecological sensitivity, safety, design innovation and ‘fun to drive’ experience!’
‘Excellent news for everyone connected to Saab around the globe,’ added Saab MD Jan Ake Jonssson.
Tags: GM, koenigsegg, saab
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