General Motors and Spyker Cars NV today confirmed that they have reached a binding agreement on the purchase of Saab Automobile AB.

“Today´s announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM,” said John Smith, GM vice president for corporate planning and alliances.

“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,” Smith said.

As part of the agreement, Spyker intends to form a new company, Saab Spyker Automobiles, which will carry the Saab brand forward. The sale will be subject to customary closing conditions, including receipt of applicable regulatory, governmental and court approvals. Other terms and conditions specific to the sale will be disclosed in due time. Read the rest of this entry »

Sleek, sophisticated and unmistakably Saab, the all-new 9-5 saloon signals the dawn of a new era for the Saab brand. With progressive, confident styling and advanced technology, Saab’s distinctive new flagship will bring a fresh, alternative choice to the premium saloon segment when it goes on sale in 2010.

The clean, sculpted shape embraces the purity of Scandinavian design, and its dramatic wraparound window graphic echoes Saab’s aviation heritage. With styling inspired by the award-winning Aero X concept car and a muscular, low-slung stance, the new 9-5 heralds the introduction of a bold and expressive design language. Read the rest of this entry »

Zurich. General Motors Corp. and Koenigsegg Group AB, a consortium led by Koenigsegg Automotive AB, today confirmed the details of a memorandum of understanding for the purchase of Saab Automobile AB that secures Saab’s future.

The sale, expected to close by the end of the third quarter of this year, includes an expected $600 million funding commitment from the European Investment Bank (EIB) guaranteed by the Swedish government. Additional support is to be provided by GM and Koenigsegg Group AB to fund Saab’s operations and product program investments. This includes plans to launch several new products that are in the final stages of development. Saab had filed for reorganization under Swedish Law on Feb. 20, 2009. This tentative agreement is a key milestone for Saab to successfully emerge from its reorganization process. Read the rest of this entry »

The Saab 9-3X is a rugged all-round car designed to take active individualists to the start of their adventure. With distinctive looks, a versatile SportCombi body, higher stance and advanced all-wheel drive technology, the 9-3X offers fuel efficiency and functional storage without limiting the kinds of roads that need to be driven. It is the ideal alternative to large and heavy crossovers or SUVs. Read the rest of this entry »

As winter sets in and the temperature falls below zero, the daily commute takes that little bit longer. In fact before you even drive away there is that irritating layer of ice on the windshield to deal with.

Do you sit in your car with the engine running and the heating on full blast waiting for the ice to melt or do you take the environmental option of clearing the windshield before you start the car? If you opt to scrape, you might scrabble around looking for a suitable implement only to settle for a CD case or credit card – what a pain! Read the rest of this entry »