Saab Saved: Spyker and GM Reach Agreement

According to TheMotorReport, General Motors and Spyker have reached an agreement for Saab automotive.

According to TheMotorReport, GM and Spyker have reached an agreement for Saab automotive. Weeks ago, it was rumored that Saab may have met its end, without a buyer or a hope after GM decided it could not sustain the faltering auto brand. Today, however, the news that Spyker will take on the Saab brand is encouraging, although it is not entirely clear where the cult car brand will go from here.

GM Vice President for Corporate Planning and Alliances, John Smith, said the deal is expected to be finalised in February. He said: “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,” Mr Smith said in a statement.”

Spyker manufactures some very limited run boutique performance cars like the Spyker C8 Aileron and others. Saab would give this small brand a much greater reach, and the $400M investment by the Swedish government could maintain the Saab distribution chain while Spyker gives Saab new life in performance and design.

Spyker CEO Victor Muller said his company plans to form a new business called Saab Spyker Automobiles. Both brands will continue to be marketed under their existing names.

Neither GM nor Spyker have offered specific details or dates for the launch of the upcoming 2011 Saab 9-5 (see the pictures), although more information should be revealed when the deal is finalised next month.

We think that the upcoming 2011 Saab 9-5 is one of the the best brand’s design. Saab has typically been a love-it-or-hate-it brand, but this model is amongst the first to truly shed that past and reach for a larger share of market interest. [via TheMotorReport]

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