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GM Europe has announced that Koenigsegg , a fellow Swedish brand who builds some of the world’s fastest super cars has bought the ailing firm Saab.

In a memo sent out by GM Europe, it was stated that there had been an ‘understanding’ between the two firms with a final deal to be made in September 2009.

We know that GM will still provide the parts and platforms for a period of time, which allows the new Saab 9-5 to launch on time. See UK Car Discounts latest discounts on the Saab range. 

Investment will come from the European Investment Bank, GM Europe and Koenigsegg.

Carl-Peter Forster, GM Europe President said, “Saab is a highly respected automotive brand with great potential. Closing this deal represents the best chance for Saab to emerge a stronger company.”