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Saab Veering Toward Junkyard

GM's failed bid to unload Swedish automaker may spell its doom

(Newser) - GM’s bid to sell its Saab unit to a small Swedish automaker has fallen through after Koenigsegg pulled out yesterday, citing costly delays in the closing process. Saab’s managing director tells the Wall Street Journal it’s “premature” to write the employer of 4,000 off, but... More »

GM Sells Saab to Tiny Swedish Custom Automaker

(Newser) - Saab, the struggling Swedish company owned by GM, was rescued today by a consortium led by Koenigsegg Automotive AB, a tiny luxury automaker that produces only a dozen vehicles a year. GM said the sale would include an expected $600 million funding commitment from the European Investment Bank, guaranteed by... More »

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