Koenigsegg to buy Saab

Swedish supercar maker Koenigsegg reaches agreement with GM to buy Saab

Saab’s future looks to be secured thanks to a buyout from fellow Swedes Koenigsegg. General Motors, Saab’s current owner, has signed a memorandum of understanding for the company’s purchase by Koenigsegg Group.

The latter is the combined efforts of the supercar manufacturer and a consortium of private investors, which has reached a tentative agreement to buy Saab, with an additional $600 million funding commitment (or £365m) from the European Investment Bank, guaranteed by the Swedish government. General Motors are unlikely to receive a fee from Koenigsegg Group for Saab, but will benefit from the loss of another brand (and its debts) from the GM books.

GM will continue to provide Saab with architecture and powertrain technology for a defined (but undisclosed) time period, something especially key with the launch of the brand-new Saab 9-5 saloon at the end of the year. It’s a very key car to the company’s future, but this buyout should ease worries at Saab’s Trollhattan plant for now.

Saab’s MD, Jan Ake Jonsson, said ‘The proposed agreement will enable us to maximise 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.’

While a Saab supercar is highly unlikely, the buyout could be of great benefit to Koenigsegg as it aims to put its ambitious Quant electric four-seater into production. Read more about that here…

Most Popular

Jaguar XJ41 – Dead on arrival
Jaguar XJ41
Jaguar

Jaguar XJ41 – Dead on arrival

The blighted ’80s ‘F-type’, the demise of which led to the creation of the Jaguar XK8 and launched a new era for Aston Martin
8 Apr 2021
Alpine GTA Concept – pro-level fan fiction car design at its best
Alpine A110 GTA concept – front
Alpine

Alpine GTA Concept – pro-level fan fiction car design at its best

Russian car designer Arseny Kostromin has magnificently executed his idea of a competition Alpine GTA
10 Apr 2021
New Mercedes CLS revealed – four-door coupe gets a refresh
2021 Mercedes CLS53 – front static
Mercedes CLS

New Mercedes CLS revealed – four-door coupe gets a refresh

Merc’s sleek CLS has received a few choice updates and a Panamericana grille for 2022
7 Apr 2021