According to details of the memorandum of understanding, Koenigsegg will help Saab launch new products which are currently in the final stages of development and are supposed to help the Swedish ailing brand get back in business.
Furthermore, General Motors will also provide Saab with engines and other parts for a defined period of time, the American manufacturer said, with the Swedish manufacturer to produce the next-generation 9-5 version in its local facility in Trollhättan, Sweden.
“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."
“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 Åke Jonsson, Managing Director of Saab Automobile AB.