Skip advert
Advertisement

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.

Advertisement - Article continues below

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…

Skip advert
Advertisement
Skip advert
Advertisement

Most Popular

TVR: Why we think it’s all over
TVR Griffith
Opinion

TVR: Why we think it’s all over

There’s barely a flicker of life when it comes to TVR and the ‘new’ Griffith. We can only fear the worst
17 Jul 2025
Save £30k on a new Range Rover and buy a Renault 5 with the savings!
Range Rover
News

Save £30k on a new Range Rover and buy a Renault 5 with the savings!

Discounts on new Range Rovers are so big you could buy a new Renault 5 with the money you save…
15 Jul 2025
​Best hot hatchbacks 2025 – affordable new performance cars
Best hot hatchbacks 2025
Best cars

​Best hot hatchbacks 2025 – affordable new performance cars

Contracted though the hot hatch market may be, there are still some great models out there, from the electric Alpine A290 to the five-cylinder Audi RS…
14 Jul 2025