The Swedish Government has agreed to underwrite the 4 billion Kronor (£358m) loan that Saab is seeking from the European Investment Bank (EIB).
The move marks a vital stage in the attempt by the Koenigsegg Group to buy the ailing carmaker from General Motors.
However the next hurdle is convincing the European Commission to allow the loan to go ahead. The rules around EIB loans say that they can only be given to ‘viable businesses’.
An independent report from a Swedish expert describes Saab’s future business plan as ‘viable but risky’.
The plan will see the 9-5 and 9-5 estate launched next year and built alongside the 9-3 saloon, estate and cabrio at Saab’s Trollhatten facility. Saab will also buy the 9-4X SUV as a finished vehicle from one of GM’s Mexican factories.
However the Koenigsegg Group and Saab bosses say the plan allows Saab to be profitable even with sales of 100,000 units per year, a figure generally regarded to be a worst-case scenario once the new models are launched.
It will now be a race to complete the buy-out and it could take two months for the European Commission and EIB to rubber stamp the loan and GM wants to complete the sale of Saab by the end of this year.