Koenigsegg still on track to buy Saab from GM

Koenigsegg has clarified its position on the purchase of Saab from General Motors this weekend saying it is still on track to finalise the deal by the end of October.

Mr Christian von Koenigsegg, CEO and part owner of the Swedish luxury sports car maker, also said good progress had been made in talks to secure [...]

China’s Beijing Auto to assist Koenigsegg with SAAB purchase

As we reported last week Koenigsegg will not seek additional Swedish government funding in its purchase of SAAB from General Motors, however, according to a report published by Reuters Newsagency today, China’s Beijing Automotive Industry Holdings Company will take a minority stake in Koenigsegg to further assist the group with its purchase.

It’s the second such [...]

Koenigsegg will not seek Swedish Gov’t loan for SAAB – report

A report published by Reuters Newsagency today has said that with Koenigsegg planning to finalise its purchase of SAAB within a few weeks, the group has announced that it will not be asking the Swedish government for any loan beyond that money already guaranteed by the European Investment Bank.

“They have presented us with a plan [...]

World’s fastest car show, no speed limits!

It does seem strange doesn’t it, that each year, millions of people around the world flock to car shows of static displays of their favourite four-wheel objects, specifically designed to move us from one place to another.

It’s hardly what you would call the ideal environment to evaluate what is functionally, a moving object.

GM closes SAAB, Koenigsegg deal – report

Sweden’s Koenigsegg has closed its purchase of Saab from America’s General Motors according to a report from Reuters Newsagency this afternoon.

Although financing arrangements have yet to be finalised, the sale was agreed upon at an unannounced price sources claim to be “very low”.

Investor sells out of Saab rescuer

Following reports that the Swedish Government was investigating claims that there were problems with the investor base of niche sports car maker Koenigsegg, which is planning to take over General Motors subsidiary Saab, Reuters Newsagency says a major investor has sold his share in the company.

North American investor Mark Bishop has sold his 22 per [...]

GM agrees Saab sale to Koenigsegg

Financially challenged US carmaker General Motors has announced that it has agreed with Koenigsegg Group AB to a Memorandum of Understanding for the purchase of Saab Automobile AB, its loss making Swedish automotive arm.

GM says the deal with the consortium, led by Koenigsegg Automotive AB, will secure Saab’s future.
The sale, expected to close by the [...]

Saab expects sale by Friday

Saab has said it is likely to unveil its new owner this week, and that three quarters of its creditors had agreed to a proposed write-down of the brand’s debt.

Saab is not commenting on who its new owner could be but reports say General Motors is close to selling the loss-making brand to Swedish luxury [...]

Koenigsegg may buy Saab – update

General Motors has today announced that Swedish supercar manufacturer Koenigsegg is the current front runner to buy out GM’s struggling Saab brand.

As we reported last week, Koenigsegg has been interested in Saab for some time. We suspect the reason is to have a mass production facility to build its upcoming electric car under the Saab [...]

Koenigsegg to buy Saab?

With General Motors having all but finalised the sale of Hummer, Saab is next. Reports from Sweden today suggest the company has narrowed the potential buyers to two, supercar manufacturer Koenigsegg and US financier Ira Rennert (Renco Group).

Having recently visited the Koenigsegg factory to film the CCX, as well as interviewing owner Christian Von Koenigsegg, [...]

Koenigsegg CCX – Full Throttle Teaser

Next Page »