SAAB sold to Koenigsegg

[LeonOfTheDead]

it can be hot even in Sweden

[Roentgen]

I have read somewhere that Saab needs HUGE financial assistance. Koenigsegg apparently has no where near enough to support themselves and Saab together.

If this is the case, I'm not sure whether this is good news or bad. But generally, I'm excited by this news. Hopefully the new Aero models will be incredible, and the Aero X concept will see production as Saab's first true supercar!

[Roentgen]

Here's another article I found,

GM Announce Tentative Agreement to Sell Saab to Koenigsegg - Worldcarfans

and it asks the question, "what will happen to the new Saab 9-5?" ... a question I hope will carry the answer, "still coming out in september."

And don't worry about Koenigsegg not knowing what to do with non-supercars. They are planning to build the Quant.

And where did you get those pictures from Leon?

[Dino Scuderia]

It's extremely surreal to see the name 'Koenigsegg' roll across the crawler on the news channels here.

[Bob]

I was hoping this would happen...I think it'll be interesting to see what happens with Saab's performance models (and the brand in general, no pun intended)...maybe even an actual sports car in the future! Anyway, glad to see them back in Sweden. I always thought they lost some of their identity when GM took over.

I enjoyed the line in the article that said GM would be supplying engine technology to Koenigsegg!?...hmm

*The new Saab 9-3, available with either the 806hp 4.7L V8 from the CCX...or...the 1.2L I4 from the Aveo!*

AFAIK Koenigsegg's current line of engines would not be very suitable for most saab models - so it makes a lot of sense for GM to supply them.

[cargirl1990]

good riddance to Saab. i never liked 'em anyways. Keoniggsegg on the other hand. flippin awesome. but, i think this might get interesting. ( i likes MRR's avatar. )

[Roentgen]

good riddance to Saab. i never liked 'em anyways. Keoniggsegg on the other hand. flippin awesome. but, i think this might get interesting. ( i likes MRR's avatar. )

I have a Saab.

[Ferrer]

I have a Saab.

Don't worry Saabs are brilliant. Or they used to be at least.

[IBrake4Rainbows]

Saabs are great and it's going to be nice having someone a little braver in charge than GM.

fingers crossed it can actually lead to some interesting cars.....

[Roentgen]

Don't worry Saabs are brilliant. Or they used to be at least.

Thank you! FYI, they still are

They're just far too under-rated.

[ScionDriver]

I heard about this deal on Conan last night, he had a joke about it "GM sold Saab to a company that only makes a dozen cars a year. GM said 'Well that's great because we only sell a dozen cars a year.'" and when he said that I thought Koenigsegg but thought "No it couldn't be! I think this could be good, get's the company back in the hands of swedes, it will be interesting to see what happens but I hope it works out for the best I like Saab.

[Ferrer]

Thank you! FYI, they still are

They're just far too under-rated.

What Saab do you have, by the way?

[cargirl1990]

I have a Saab.

im sorry! i just never liked them thats all. i didn't mean to make you angry. my apologies.

[LeonOfTheDead]

Here's another article I found,

GM Announce Tentative Agreement to Sell Saab to Koenigsegg - Worldcarfans

and it asks the question, "what will happen to the new Saab 9-5?" ... a question I hope will carry the answer, "still coming out in september."

And don't worry about Koenigsegg not knowing what to do with non-supercars. They are planning to build the Quant.

And where did you get those pictures from Leon?

Autoblog.com

Don't worry about the 9-5, is the only reason why someone bothered buying Saab, and yes, it's still coming out in September

General Motors and Koenigsegg Group AB Reach Tentative Agreement on Saab

Deal will secure Saab’s future
EIB expected to provide $600 million financing with state guarantee by the Swedish government
GM reinvention achieves another milestone

Zurich. General Motors Corp. and Koenigsegg Group AB, a consortium led by Koenigsegg Automotive AB, today confirmed the details of a memorandum of understanding for the purchase of Saab Automobile AB that secures Saab’s future.

The sale, expected to close by the end of the third quarter of this year, includes an expected $600 million funding commitment from the European Investment Bank (EIB) guaranteed by the Swedish government. Additional support is to be provided by GM and Koenigsegg Group AB to fund Saab's operations and product program investments. This includes plans to launch several new products that are in the final stages of development. Saab had filed for reorganization under Swedish Law on Feb. 20, 2009. This tentative agreement is a key milestone for Saab to successfully emerge from its reorganization process.

“This is yet another significant step in the reinvention of GM and its European operations,” said GM Europe President, Carl-Peter Forster. “Saab is a highly respected automotive brand with great potential. Closing this deal represents the best chance for Saab to emerge a stronger company. Koenigsegg Group's unique combination of innovation, entrepreneurial spirit and financial strength, combined with Koenigsegg's proven ability to create world-class Swedish performance cars in a highly efficient manner, made it the right choice for Saab as well as for General Motors."

As part of the proposed transaction, GM will continue to provide Saab with architecture and powertrain technology during a defined time period. Additionally, Saab plans to produce its next generation 9-5 models in the Saab production facility in Trollhättan, Sweden.

“The proposed agreement will enable us to maximize the brand’s potential through an exciting new product line-up with a distinctly Swedish character. Today’s announcement is great news for Saab’s current and future customers, dealers, suppliers and employees around the globe, said Jan Åke Jonsson, Managing Director of Saab Automobile AB.

The sale will be subject to customary closing conditions, including receipt of applicable regulatory, governmental and court approvals. Other terms and conditions specific to the sale are not being disclosed at this time. Deutsche Bank acted as financial advisor to General Motors Corporation.

[switters78]

Thank you! FYI, they still are

They're just far too under-rated.

You can thank GM for that.