Home LifeStyle  Luxury Cars GM Sells Saab to Spyker Cars

GM Sells Saab to Spyker Cars

Posted: Feb. 11th, 2010  |  By James Rothaar Freelance Writer |
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Luxury Car News:General Motors announced that an agreement has been reached to sell Saab Automobile AB to Spyker Cars NV. The automaker will live on under a new corporation, Saab Spyker Automobiles. John Smith, GM VP for corporate planning and alliances, said that it was great news for GM, Saab and its network of dealers and suppliers, employees, and fans worldwide.

The Swedish government is reviewing the transaction in its entirety to ensure orderliness. If all proceeds smoothly, the transaction is expected to close in mid-February. Additional information will be announced in “due time.”

“General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we're all happy for the positive outcome,” said Mr. Smith, GM’s man with the seven word job title (excluding “GM”).

No word yet on whether the soon-to-be formed Saab Spyker Automobiles will brand cars as “Saab,” “Saab Spyker,” or some derivative thereof.

Backlit: Svenska Aeroplan AB made aircraft first 10 years. Saab 92 was first car in production (1949). GM tried to sell Saab to Koenigsegg, the Swedish super-car maker, in June 2009; fell through in fall.
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