Koenigsegg buys Saab, brings Quant electric car to life

Everyone was surprised when Koenigsegg, a Swedish car company specializing in the production of super cars, was the leading bidder for the sale of Saab, a struggling car company at present time due to the global economic crisis. Specialists, enthusiasts, and spectators alike could fathom the logic behind Koenigsegg’s desire to take over a mainstream brand when it has been creating supercars year after year without problems.

Last week, the story of Koenigsegg’s plan to buy Saab got more and more interesting when it has been reported that Koenigsegg and General Motors have already signed a memorandum of agreement regarding Saab’s sale. Moreover, Baard Eker, the co-owner of Koenigsegg said in an official statement that the Swedish car company has a number of solutions planned and they have what it takes to save Saab from bankruptcy.

The Swedish news company Realtid, reported that taking over Saab would enable Koenigsegg to bring their electric concept car Quant to reality. Saab’s facilities would allow Koenigsegg to produce electric cars, such as the Quant electric car concept and many more.

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Saab off to Koenigsegg’s Garage

The tale of Saab may come to a close with a three way agreement through a letter of intent between General Motors, Koenigsegg, and a group of investors from Norway.

GM disclosed that it will no longer call the shots for Saab and the Swedish car manufacturer will be an independent entity by January 2010.

The announcement of the sale may come before the end of the month, considering the plans of the car maker to write off some debt and be on the positive side of the scale by 2011. Final negotiations might be taking place but final details are still being ironed out according to insiders.

According to the Saab spokesperson, there were three firms that are still showing interest for the company and the sale will push through despite of the filing of Chapter 11. Those remaining on the negotiating table are Swedish car maker Koenigsegg, Wyoming investor group Merbanco, and the Renco Group of Ira Rennert. The bidders’ number was trimmed down from a list of 20.

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