Cars Blog

Koenigsegg Group and General Motors have reached the final table deal with regard to the fate of the Saab. After twenty years of American ownership, Swedish supercar maker Koenigsegg will have 100% control over the Saab brand.

The deal will be concluded after a few months and the Saab brand will know what lies ahead. Koenigsegg and GM will be handling necessary legal re-organization and discuss some closing conditions.

General Motors is expected to give transitional assistance for the operation of Saab. The Swedish government has also promised to inject some funding to the turnover.

For a certain time frame, Koenigsegg and GM will be sharing their services and technology guided by set agreements. The Swedish car maker plans to put into effect some solutions to revive Saab but it is a big job to prove for a company with only 50 employees that sell a number of $1 million cars annually.

The new investment will help Saab roll off 3 new models through the end of next year and hopefully will be back to its feet as a known technology innovator.

Saab plans to release the 9-3X, the new 9-4X, and the 9-5. The Koenigsegg Group on the other hand will utilize the existing facilities of Saab to produce their electric supercar, the Quant.

Saab’s sales figures last year were really a disappointment dropping by as much as 25.5% which translates to about 93,338 units. The performance is not expected to improve this year. Saab originally planned a reorganization last February.