Saabapedia.org » Koenigsegg

Geely on Deck to Save Saab

admin — Mon, 07 Dec 2009 14:01:17 +0000

Geely, the same company bidding to purchase Volvo from Ford Motor Company, may be on deck to pick up a dwindling Saab. These are interesting times at Saab – previously the auto maker was going to be picked up by Koenigsegg, bringing ownership back to Sweden. Saab has been under GM’s flag for decades. Now that the Koenigsegg deal is off Saab is waiting in the wings – for Geely?

Auto Evolution reports that no such agenda is certain, when asked if Geely is interesting in making an offer for Saab, “Lawrence Ang, an executive director of Geely Auto, quickly reacted: Who knows?” Geely is believed to offer $2 billion for Volvo, although officials involved in the matter refused to comment on the rumors.

Who Will Save Saab Now?

admin — Tue, 01 Dec 2009 16:26:59 +0000

A marriage between Saab and Swedish performance car maker Koenigsegg is over even before the ceremony was finished, raising questions of the brand’s long-term viability… General Motors, Saab’s cash-strapped US-based parent, issued a brief statement overnight announcing the merger would not take place after Koenigsegg pulled out of the deal.

‘‘We’re obviously very disappointed with the decision to pull out of the Saab purchase,” GM president Fritz Henderson said in a brief two-paragraph statement announcing the breakdown in the sale process.

‘‘Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB,’’ Mr Henderson said.

‘‘Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week.’’

Up until yesterday’s surprise announcement, the Koenigsegg deal had looked solid. The Swedish car maker had even announced it had struck a deal with a Chinese investor that was keen to expand the Saab line-up into China and other untapped markets.

via Sydney Herald

Koenigsegg Takes Full Ownership of Saab from GM

admin — Tue, 18 Aug 2009 17:45:14 +0000

As one of several car companies General Motors put up for sale earlier this year, Saab was one to sell quickly. And today it is official – GM has announced they have signed a stock purchase agreement with Koenigsegg for 100% of Saab Automobile. GM and Saab will reportedly “continue to share technology, under a variety of license and service agreements, for a defined time period.”

GM’s European President Carl-Peter Forster said, “This contract is an important step in the journey to a potential deal.” He added that, “Saab’s great cars, its unique design, safety- and engine-technology, as well as its excellent brand image, combined with Koenigsegg Group’s unique combination of innovation and entrepreneurial spirit, bode well for a successful future for the brand. We will continue to work with all parties to define the final details and ensure a fast closure of the deal, which we expect to take place in the next few months. The closure of the deal is contingent on the funding commitment from the European Investment Bank, guaranteed by the Swedish government.” Well now, doesn’t he seem enthusiastic about all of this!

Both new Saab owner Christian von Koenigsegg and Managing Director of Saab Jan Åke Jonssson (try saying those names 3-times fast) echoed Forster’s sentiments. The all new Saab 2010 9-3X will be the final vehicle released under a GM-Saab partnership, and Koenigsegg hopes the Swedish auto maker will take a new design angle on future concepts, while keeping the beauty and performance of Saab cars alive.

(photos: WorldCarFans)

Saab’s New Owner – Koenigsegg – Who Are They?

admin — Tue, 16 Jun 2009 16:38:17 +0000

General Motors has been trying to sell off Saab for months, in order to save the struggling Swedish auto maker from being stricken off the face of our Earth. Well, now automotive consortium Koenigsegg has picked up ownership of Saab. But who are they, why did they purchase Saab…and more importantly – how do you pronounce their name?

Koenigsegg, no relation to Star Trek and Babylon 5 star Walter Koenig, is pronounced “Kein-ig-segg” – and is a fellow Swedish car manufacturer of high performance sports vehicles. I guess one look at the “Made From Jets” ad campaign from Saab and they were sold. Founded in 1994 by Christian von Koenigsegg, their intention was to produce world class sports cars. Koenigsegg is also active in development of plug-in electrical sports cars. They are currently working on a four-seat, two-door solar electric vehicle, the Quant. Koenigsegg holds patents for the “Rocket catalytic converter,” which “reduces backpressure and size while shortening light of time” (whatever that means). Forbes Magazine (in their March 2009 issue) chose the Koenigsegg CCXR, pictured below, as one of the ten most beautiful cars in history.

On June 11th, 2009, it was reported that Koenigsegg and a group of Norwegian investors had signed with Saab to take over the brand from GM – the sale is expected to close in September. I guess they want to keep it “local” regardless the reason, we are relieved one of our favorite auto makers will survive the crushing blow to America’s Auto Industry.