The uncertainty over Saab’s future looks like it will soon be over. General Motors, which owns the Swedish marque, will according to The Business Times conclude a deal to sell 100 per cent of the shares of Saab Automobile AB to Koenigsegg Group AB by year-end.
GM and the super sports car maker signed a stock purchase agreement last month and the US auto giant says the closing will be subject to funding agreements and other closing conditions. Saab plans to exit legal reorganisation shortly.
Saab is due to launch several new cars that were developed with General Motors and which are in the final stages of development. One of them is the all-new Saab 9-3X, which is a blend of SUV and estate with the company’s XWD four-wheel-drive system.
As part of the proposed transaction, GM and Saab will continue to share technology and services during a defined time period.
“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,” said Carl-Peter Forster, president of GM Europe.
To celebrate the latest development, authorised Saab distributor in Singapore, Trans Eurokars is offering new Saab customers zero per cent interest on their first year of instalments for a limited period. Trans Eurokars is also throwing in its comprehensive five-year servicing plan at no extra charge. Under this five-year free servicing programme, Trans Eurokars will cover servicing needs including the replacements of parts specified in the service packages.
“Eurokars Group’s commitment to Saab has never wavered,” said Karsono Kwee, executive chairman of the Eurokars Group of Companies, adding:
“Saab lovers in Singapore can look forward to exciting times in 2010, including the debut of the new Saab 9-5 Sedan in Singapore.”
The all-new 9-5 will debut at this month’s Frankfurt auto show. Inspired by the award-winning Aero X concept car, it will be launched here in the first half of next year.