BREAKING : Koenigsegg to buy Saab

[OnURleft]

Finally, Saab is out of slavery and will be bought by a Swedish brand that will hopefully return some dignity into the name plate.


http://www.autoblog.com/2009/06/11/breaking-swedish-tv-reports-koenigsegg-buying-saab/

For those of you that don't know, Saab was a very well respected nameplate in the 80's up until the mid-late 90's when they lost their spark. They could've exploded like Audi, Lexus etc. but IMO their brand lost it. They were a trendy and popular brand that never really developed with time

[VTECking]

Its gonna be damn hard for SAAB to do well in this global economic recession that going on.

[RUFFIAN]

I'm happy that they are out from under the thumb of General Motors

[EJ25RUN]

I'm letting this simmer till it happens.

A lot of times these things are just to get media attention.

[Frög]

^ I was thinking that..

But that would be good.. GM should not own Saab!

[eraser4g63]

Well if Koenigsegg makes Saabs any thing like them make their own cars they are gonna be crazy as fawk.

[_Christian_]

Koenigsegg was thrown into the list of finalists late last month
Seems like the certainty isn't there, but I'd love to see hwat Koenigsegg does with the company.

[Ricer]

i'd be willing to bed 95% of the american consumers can't even pronounce Koenigsegg

[VooDooXII]

This could be incredible or just not matter at all. I wonder how much influence Koenigsegg will have over SAAB. I guess they just wanted to keep Swedish ownership of the company. Either way, it's sort of exciting.

Easy though..."Ko-neg-seg."

Hahaha...wouldn't let me spell the middle bit with an "i."

[EJ25RUN]

This could be incredible or just not matter at all. I wonder how much influence Koenigsegg will have over SAAB. I guess they just wanted to keep Swedish ownership of the company. Either way, it's sort of exciting.

Easy though..."Ko-neg-seg."

Hahaha...wouldn't let me spell the middle bit with an "i."

I thought this was the spelling. :???:

"Koenegseggggggsegggegggegigioabbaviking CC"

and

"Koenigseggegkenegonisogoenekosenoseningoegg" CCX

[larossa9]

^^^^^^^^^^
according to Jeremy Clarkson, yes yes it is lol

[1SICKLEX]

Saab needs to sell 150k units a year to break even. They sold under 100k last year. I hope the best for them!

[D3UC3S]

maybe saabs will have those crazy doors now...lol

[1SICKLEX]

maybe saabs will have those crazy doors now...lol
Random Saab fact. The door handles in the past 900s were so strong so you could tow the car out of trouble from the door handle. This was if you got caught in snow.

[VooDooXII]

I thought this was the spelling. :???:

"Koenegseggggggsegggegggegigioabbaviking CC"

and

"Koenigseggegkenegonisogoenekosenoseningoegg" CCX

Spelling doesn't equal pronunciation though ;)

:lmao:



maybe saabs will have those crazy doors now...lol

I hope they have these crazy doors...on THAT car.
http://carsmedia.ign.com/cars/image/article/694/694782/saab-aero-x-20060309051201374.jpg

[EJ25RUN]

Erik Carlsson was able to role his Saab on purpose with ease and keep going with minimal damage.

Will that feature return?


two stroke ftw.
http://www.saabhistory.com/blog/wp-content/uploads/2007/06/96small.jpg

[VooDooXII]

Aren't two-stroke engines grossly inefficient?

[EJ25RUN]

Aren't two-stroke engines grossly inefficient?

you make the same power with half the displacement. Sounds good to me.

Emissions = boring technicalities.

[D3UC3S]

Random Saab fact. The door handles in the past 900s were so strong so you could tow the car out of trouble from the door handle. This was if you got caught in snow.


I don't think anyone else can say that about their car!!! Thats pretty fukin cool right there

[VooDooXII]

you make the same power with half the displacement. Sounds good to me.

Emissions = boring technicalities.

Guess I'm not completely up to speed on two-stroke knowledge. I was just wondering...in India I see two-stroke scooters and rickshaws everywhere and their exhaust comes out white and smelling like gasoline.

I do hope SAAB brings back that Citroen-esque quirkiness though. All I've got to enjoy in my car is the double-backflipping cupholder, the Night Panel, and the center-mounted ignition. Not that I don't enjoy my car otherwise though. :goodjob:

[Glides]

Old 900s are hot. Good cars. Hope this happens.

[EJ25RUN]

Autoblog....

Officially Official: Koenigsegg reaches agreement to buy Saab

After days of speculation and rumor, General Motors made it official this morning, Saab will soon be back in Swedish hands. In many respects, this is the most fitting result for quirky brand. Koenigsegg is an oddball itself, building insanely fast supercars in a Scandinavian country where you can't legally drive over about 60 mph.

The deal will be partly financed through a $600 million loan from the European Investment Bank that is co-signed by the Swedish government. Just as GM will continue to provide Penske-owned Saturn with cars for a time, it will supply platforms and powertrains to Saab. The length of time that Saab will continue to use GM hardware hasn't been disclosed, but it will likely be for at least the next 5-6 years – if not longer. The new 9-5 which will be built in Trollhättan, Sweden is launching later this year followed by the 9-4X crossover. Both of these will probably complete their lifecycle on current platforms. The same is likely true for the 9-1 which may launch in 2010 or 2011. The big question mark will be the next generation 9-3, which had been expected to move to GM's Delta II platform.

The Koenigsegg-Saab deal should close by the end of September, and you can check out the official verbiage after the jump.

[Source: General Motors]


PRESS RELEASE:

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.


General Motors Corp., one of the world's largest automakers, was founded in 1908, and today manufactures cars and trucks in 34 countries. With its global headquarters in Detroit, GM employs 235,000 people in every major region of the world, and sells and services vehicles in some 140 countries. In 2008, GM sold 8.35 million cars and trucks globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Hummer, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling. GM's largest national market is the U.S., followed by China, Brazil, the United Kingdom, Canada, Russia and Germany. In Europe, GM sells its vehicles in over 40 markets. It operates 10 vehicle-production and assembly facilities in seven countries and employs about 50,000 people. More information on GM can be found at http://media.gmeurope.com and http://www.gmeurope.com. GM Europe executives blog at http://drivingconversations.com.To support informed discussion and fact-based reporting, GM and Opel & Vauxhall have launched a new website at http://gmeuropefactsandfiction.com.


Koenigsegg Group AB is a consortium of private investors led by Koenigsegg Automotive AB. Koenigsegg Automotive AB manufactures supercars. It has representatives in Africa, Asia, Europe, the Middle East, North America, and the Oceania. The company was founded in 1994 and is based in Ängelholm, Sweden.

[VooDooXII]

Just saw this on LLN. :goodjob:

[cjhutch]

Time to go out and get some custom emblems for the 9-3. The factory ones seem to start peeling after about two years.

http://i205.photobucket.com/albums/bb258/7eregrine/KEgg.jpg

This picture is a thing of beauty

http://www.saabsunited.com/upload/images2009/06/saab_koenigsegg_-/DSC_0238.jpg

[VooDooXII]

Yea I think I'm going to have to invest in some "Koenigsaab" badges...my rear badge just started chipping.