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- Polestar announces new management team to develop electrified performance brand for Volvo Cars
- Volvo’s Polestar Might Become Separate Performance Brand for EVs
Swedespeed would like to congratulate General Motors and Koenigsegg on finalizing a deal today for the sale of Saab to the small, Swedish supercar builder. To us, it’s great to see one fellow Swedish carmaker saved by another, thereby forming one stronger, more impressive company. The deal was made possible by a $600 million loan from the European Investment Bank, a loan co-signed by the Swedish Government. And while the deal is finalized, the inner workings of the sale won’t be totally complete until September.
As part of the transition, General Motors will continue to supply powertrains and platforms to Saab in the coming years, though an exact timeline hasn’t been announced. Both the 9-4x and the new 9-5 coming out later this year use, and will continue to use, GM components, probably for their entire life-cycles. It’s believed that the same is true of the future 9-1, though little is known about that car at this time. Even less is known about the development progress of the next 9-3, which could perhaps end up being the first Koenigsegg-directed product to wear the griffin badge. From what we know of the new owners, we can only assume that a 9-3 Turbo X follow-up will come, this time using a mid-mounted, 1000-hp screamer of an engine. We wish.
As an aside to this deal, news broke yesterday that in a very roundabout way, Volvo has a small stake in Koenigsegg and as such, now owns a small piece of Saab. By small, we do mean tiny. Turns out that the company paid Volvo with stock for some wind tunnel rental time, and at the current price, those 3750 shares equate to just over $1000 US. Which obviously means that in one click of a mouse and one quick draining of a bank account, you or I could own more of Saab than Volvo does.
Again, best of luck to Saab and Koenigsegg in the future, and here’s to hoping Volvo’s future follows a similarly quick path to clarity.
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