Saab saved by Dutch car company Spyker GM to sell ailing Saab for $400 million
29 January 2010
Dutch sports car maker Spyker has agreed to buy Saab from General Motors (GM) in a $400 million deal, saving the iconic Swedish car company from closure.
Final detailed negotiations are expected to be completed in mid-February, but the new company is to be called Saab Spyker Automobiles.
Saab’s former custodians GM first put the company up for sale in January 2009, as the US firm was forced to restructure in the face of the financial crisis.
When original talks with Swedish supercar maker Koenigsegg broke down in November, GM announced it would start to wind Saab production down. However, a last-gasp collective effort by both Spyker and the Swedish government has ensured its survival.
Spyker boss Victor Muller said: "We are very much looking forward to being part of the next chapter in Saab's history. The next task is for Saab to become profitable in its own right, and that's not an easy task. But it is one that I think can be achieved."
The next chapter begins with the new 9-5
The first model to be released under the new ownership will be the 9-5 saloon we saw at the in September. We were deeply impressed with the show car and production is already believed to be underway at Saab's Trollhattan plant in Sweden.
Spyker also has plans to bring an estate version of the new 9-5 to market as soon as possible.