Swedish government receives latest funding proposal
8 September 2009

Koenigsegg has presented the Swedish government with its latest plan for funding its purchase of struggling manufacturer Saab from General Motors.

The latest plan doesn’t require any state loans on top of the guarantees the supercar manufacturer has received from the European Investment Bank.

See the Saab 9-5 picture gallery

Koenigsegg reached a deal with GM for Saab in June, but it has still to prove it has the necessary funding in place.

Swedish state secretary Joran Hagglund said: “They [Koenigsegg] have presented us with a plan. We will look at it from our side and decide how credible it is. As I understand it, they will present information on the matter in the coming days.”

Koenigsegg said last month that it expected the deal to be completed by the middle of September, while GM has claimed it will be done by the end of the year.

Saab launched its new flagship 9-5 saloon last month and it will be officially unveiled at the Frankfurt motor show next week.

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