#saab

According to a recent report in the U.K.’s AutoCar, Saab is planning a hybrid version of the upcoming 9-5. The system will use a small 1.4-liter turbocharged gasoline engine, which will be assisted by an electric motor. Sounding similar to the setup found in the Honda Insight, this will not be a two-mode hybrid and will not be able to operate exclusively on electric power. Instead the electric motor’s immediate torque will be used to help the small gasoline engine which will then take over at highway speeds.

Koenigsegg’s bid to purchase GM’s Swedish Saab brand was contingent on the company securing additional funding, either through external investment or through loans. With the Swedish government not overly excited about bailing out Saab and after rejecting attempts by Volvo to secure assistance, Keonigsegg has looked to the private sector and overseas for an interested party.

Koenigsegg Group AB has now announced it has found just that in Chinese automaker Beijing Automotive Industry Holdings.

The deal has yet to be finalized and no monetary amount has been given, but Koenigsegg did say that Beijing Auto will be a minority non-controlling shareholder.

In return Saab will not only get much-needed funding but also access to the massive Chinese marketplace.

“This is an important step on the road to a new SAAB Automobile. We have a solid business plan, an important partnership and we are now in a position to go ahead without any governmental financing,” said Christian von Koenigsegg, CEO of Koenigsegg Group AB.

Official release after the jump:

Saab has just released a selection of new photos, as well as a new information on its upcoming next-generation 9-5 flagship. The Swedish automaker has also confirmed that the new model will debut at the Frankfurt Auto Show next month.

General Motors has signed an agreement to sell off its Swedish Saab unit to the Koenigsegg Group. Led by supercar maker Koenigsegg, the group includes several additional investors. The deal will see the Koenigsegg Group take a 100 percent stake in Saab.

After a considerable amount of secrecy surrounding the next generation Saab 9-5, it seems as though the cat is finally out of the bag. Two German publications (Autobild and Autozeitung) have published what appear to be official Saab press photos of the 2011 9-5.

General Motors has officially announced it has reached a tentative deal to sell its Swedish Saab brand to a group of companies lead by Swedish supercar-maker Koenigsegg.

The deal will see the Koenigsegg group receive $600 million in funding from the European Investment Bank, which has been guaranteed by the Swedish government.

GM will provide Saab with platform and powertrain technology for an undisclosed period of time, while Saab is set to begin production of the next generation 9-5 in the near future at its plant in Trollhättan, Sweden.

“The proposed agreement will enable us to maximize the brand’s potential through an exciting new product line-up with a distinctly Swedish character.  Today’s announcement is great news for Saab’s current and future customers, dealers, suppliers and employees around the globe, said Jan Ake Jonsson, Managing Director of Saab.

“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’s acquisition of Saab is expected to be completed by the third-quarter of this year.

Official:

General Motors has made the surprising decision to sell its Saab brand to Swedish supercar maker Koenigsegg. The move comes as such a shock because the two other final bidders were wealthy and mainstream American entities: the Wyoming investment group Merbanco and U.S. billionaire Ira Rennert’s Renco Group.

It seems like there is a new update in the Saab and Saturn sell-off every day… so why stop now. Yesterday we reported that the list of Saab buyers was down to three and now that list has been shortened to just two suitors.

With news of a tentative deal to sell off Hummer coming yesterday, GM still hasn’t made any decisions about its Saturn or Saab brands – but apparently it has plenty of offers to entertain.

In a surprising move, a potential buyer for Saab has been found from the company’s home country. Nope… note Swedish automaker Volvo, but Swedish supercar maker Koenigsegg.

Apparently General Motors CEO Fritz Henderson thinks the upcoming Saab 9-5 is so good, he doesn’t want to sell the Swedish automaker. In an interview in Sweden’s Expressen magazine he declares that he’d rather see Saab fail in bankruptcy court than sell off the brand.

After Saab’s request for “reorganization” was approved by a Swedish court today, the carmaker has announced that it will look to restructure itself as an independent entity.

This move is the first step in a process that would allow Saab to restructure itself and renegotiate terms with creditors. This, after Saab said it estimates a loss of $340 million last year and expects a similar loss for 2009.

“We explored and will continue to explore all available options for funding and/or selling Saab,” said Managing Director Jan-Ake Jonsson. “It was determined a formal reorganization would be the best way to create a truly independent entity that is ready for investment.”

The move comes after General Motors announced in its viability plan submitted to the U.S. Treasury that it would not cover further losses at Saab, but that it would assist financially in the reorganization process. A request to the Swedish government, asking it to take over Saab was also rejected.

General Motors has put forth a “substantial” amount of money to help Saab and has asked the Swedish government for loan guarantees of $600 million to keep Saab afloat. GM has also agreed to help with development and tooling costs of the new 9-5,94x and 9-3x which are scheduled for launch in the next 18 months.

Saab has also applied for 500 million euros from the European Investment Bank and is looking for private investors.

The independent Saab would be centralized in Sweden with design, engineering and manufacturing all taking place in that country.

Saab, which currently employs 4,000 people in Sweden, was sold, in part, to General Motors in 1990, with GM taking full control in 2000. Since the purchase the Swedish automaker has only turned a profit once.

[Source: AutoNews]

Official Saab Release After the jump:

Along with asking for $16.6 billion more in loans from the Federal Treasury, General Motors has made it clear that Saturn, Saab and Hummer will be sold off or eliminated.

According to a report in Automotive News, General Motors is looking to sell Saab but no one is looking to buy.

Unveiled at the LA Auto Show, some 25 years after the Swedish company first brought the world a Saab Convertible, the 9-X Air Concept will likely drive the design direction of future 9-3 models.