Supercar maker to buy Saab

Swedish maker Koenigsegg currently makes around 20 CCX supercars per year - a car that in 2007 held the Top Gear test track lap record, famously improving its time by three seconds after The Stig recommended it be fitted with a rear spoiler, or the 'Top Gear wing'.

But the maker will have to learn how to handle mass production, and fast, if reports from Sweden that it's set to buy Saab from GM are true. According to television news reports on Swedish station SVT, Koenigsegg has signed a letter of intent to buy Saab, though the deal will take some time to conclude.

Saab has been operating under bankruptcy protection since February, but the Swedish government would not offer it any state financial support until a buyer was found. But now that Koenigsegg is in the frame, the government has been quick to make a statement confirming it has authorised its debt office to open up discussions regarding loan guarantees.

It's reported that Saab will receive over £300m from General Motors in finance and assets - including the production line for an entirely new model - when the sale goes ahead, although it will have to pay GM back at an agreed time. The news is positive for the 3,400 or so employees currently at Saab, and the 15,000 workers in the supply chain whose jobs will be at risk if Saab goes bust.

Mark Nichol