| A Buyer For Saab | ||
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(Tue 16 Jun 09) The future of Saab is looking more secure now than it has for some time, following the signing of a memorandum of understanding between General Motors and supercar manufacturer Koenigsegg.
Koenigsegg's acquisition of Saab is expected to happen in the third quarter of this year, partly with the help of $600 million funding from the European Investment Bank (with a guarantee from the Swedish Government). GM will continue to be involved, supplying Saab with platforms and powertrains "during a defined time period", and there are plans to launch various projects which are nearing the end of their development programmes but whose chances of making it to production had until recently looked very shaky. |
