Spyker has completed a deal with the 72-year-old Swedish car maker which will save thousands of jobs across Europe.
The news means Saab has exited liquidation and the management team is back in control of the company.
The two car makers will operate as sister companies under the parent company Spyker Cars N.V.
Victor Muller, CEO of Spyker Cars, said: “We are delighted – Saab’s future is now secure. From today we will be concentrating all of our efforts into reviving Saab and transforming it into a sustainable and profitable company with the confidence to be bold.
“We will reinforce the emotional experience between Saab drivers and their cars and we will focus on Saab’s historical strengths in the fields of independent thinking, aircraft heritage, ecological performance and motorsport.”
Jan Åke Jonsson, CEO of Saab Automobile, said: “Today’s announcement is great for Saab’s customers, dealers, suppliers and employees around the globe, the level of passion and support shown to Saab over recent months has been remarkable and this does bode well for the future.
“Now we aim to get back to the execution of our business plan, starting with the introduction of the new 9-5 later this year, and with the continued support of our employees and business partners I am confident we will succeed.” Saab was facing closure under previous owner General Motors.
2006 brought new surprises from Spyker. The first surprise came early in the year at the Geneva Auto Show. There Spyker unveiled an unusual addition to their range: an all-terrain "Sports Utility Vehicle" (SUV) named D12 Peking-to-Paris. Like the Double 12 and the LaTurbie this names refers to a historic Spyker racing achievement, in this case the most important one: the second place in the legendary and gruelling 1907 Peking to Paris marathon race for a Spyker car. Since this race was more of an adventure crossing dirt roads, mountain passes and exotic territories it suits an all-terrain vehicle to bear its name.
Obviously, after the runaway success of the Porsche Cayenne and luxury SUVs by most of the premium brands, especially in the US, it isn't strange anymore that a sportscar manufacturer introduces a car like this. There is a lot of money to be made in this new segment while it's still forming. And Spyker is ambitious enough to fight for a part of it.
This D12 was however a concept and not an available model, though orders for it would be taken. Spyker planned to introduce the production model late in 2007.