California Autos Examiner

Tuesday, June 16, 2009

Good egg? Koenigsegg Group AB looks to purchase Saab

Koenigsegg CCX and Saab Aero-X Concept

General Motors sent out a press release today stating that a planned acquisition of Saab by a a consortium led by Koenigsegg Automotive AB would secure Saab's future, is expected to close by the third quarter of this year, includes an expected $600 million funding commitment from the European Investment Bank (EIB) guaranteed by the Swedish government and includes plans to launch several new products that are in the final stages of development.

Koenigsegg CCX and Saab Aero-X Concept

This last piece of the press release is very critical. Saab is about to replace its ancient 9-5, launch a 9-3 variant called the 9-3x and produce a new crossover called the 9-4x. If Saab is to maintain any momentum, it must continue with this launch schedule reasonably intact. While it is safe to assume to the 9-5 and 9-3x will arrive in the not so distant future, less has been said about the 9-4x although presumably it is still set for production.

Koenigsegg CCX and Saab Aero-X Concept

“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."

Koenigsegg was founded by Christian von Koenigsegg in 1994. The company makes high-performance sportscars in very limited numbers. The company's headquarters is in Angelholm, in southern Sweden, using an aircraft hangar that once housed Swedish airforce Gripen fighter jets made by defense group Saab AB.

For more info: Check out Koenigsegg on Wikipedia. Visit Saabs Unlimited (where I found the above photos) for enthusiasts' take on the acquisition.

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