Koenigsegg buying Saab

Posted on Tuesday, 16 June 2009 , 14:06:00 byEmil

Filed under koenigseggbuysaabgmKoenigseggSaabGM

Koenigsegg buying Saab

GM confirmed the memorandum of understanding, all signed out having a consortium that represents Koenigsegg Swedish supercar maker over the beleaguered Saab model purchase. The fact that Saab will again be a completely Swedish carmaker confirms many reports over the previous week saying that Koenigsegg is the favored bid firm.

'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, the Managing Director - Saab Automobile AB, in some statement released by Koenigsegg and GM.

'This is yet another significant step in the reinvention of GM and its European operations' stated Carl-Peter Forster - GM Europe President. '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'.

'I’m struggling to see the point of this deal' affirmed Philippe Houchois, the head of European car industry research in London at UBS told the New York Times. 'Is it to ensure the survival of Saab, to save jobs? It looks like a short-term solution that doesn’t resolve the core issues'. The deal still saves around 5,000 jobs in the world.