GM Has Now Reached A Deal With Spyker Regarding A Saab Sale

Featured, Miscellaneous, Reports | Dean | January 27, 2010 at 01:06

General Motors, and Spyker Cars has confirmed that they have reached an agreement for the Saab brand.

“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.

Spyker is planning to create a new company called Saab Spyker Automobiles and this will push the brand forward. There will be various government and court approvals needed for this to take place.

The Swedish government is currently looking through the paper work, and they are requesting a bit of funds from the European Investment Bank.

“Throughout the negotiations, GM has always had the hope to find a solution for Saab that would avoid a wind down of the brand,” added Nick Reilly, president, GM Europe. “We’ve worked with many parties over the past year, including governments and investors, and I’m very pleased that we could come to such a good conclusion, one that preserves jobs in Sweden and elsewhere. GM will continue to support Saab and Spyker on their way forward.”