Motor Authority - blog Tag: Koenigsegg

Koenigsegg's purchase of Saab had been rumored to be in trouble due to financing issues, but the European Investment Bank’s (EIB) decision on Wednesday to loan the struggling Swedish automaker €400 million ($600 million) shores up the purchase.

The loan from the EIB is contingent on a state guarantee from Sweden but thankfully the government has decided to back up the loan.

General Motors and Koenigsegg reached an agreement for the sale of Saab back in August, but the deal hasn't been completed as Koenigsegg has struggled to come up with the funding to buy out 100% of GM's interest under the terms of the deal.

Sweden's eagerness...

Koenigsegg's purchase of Saab had been rumored to be in trouble due to financing issues, but the European Investment Bank’s (EIB) decision on Wednesday to loan the struggling Swedish automaker €400 million ($600 million) shores up the purchase. The loan from the EIB is contingent on a state guarantee from Sweden but thankfully the government has decided to back up the loan. General Motors and Koenigsegg reached an agreement for the sale of Saab back in August, but the deal hasn't been completed as Koenigsegg has struggled to come up with the funding to buy out 100% of GM's interest under the terms of the deal. Sweden's eagerness to keep Saab, as well as Volvo, within its borders, no doubt plays into the decision to back the Koengigsegg Group's purchase of the brand. Even after the sale of Saab, however, GM will continue to share technology and services through an agreement like that between Penske and GM for the Saturn brand. Unlike the failed Penske-Saturn deal, Koenigsegg's purchase isn't dependent upon further supply contracts from other carmakers. Saab is already planning to launch three new models over the next 18 months, including the 9-3X, 9-4X and the recently revealed next-gen 9-5 (pictured). [Automotive News, sub req'd] Read More

We’ve never believed in a car being cursed, but there’s definitely something unlucky about this sad looking supercar from Swedish manufacturer Koenigsegg. This particular incident involved a blue 2008 CCX that was damaged by a dealer in New York who decided to take the customer-owned supercar for a quick spin.

The unfortunate dealer ended up crashing into a guardrail and also managed to damage a 2009 Porsche GT2 in the process--no word on whether the two cars were racing, but in circumstances such as this it probably would be safe to assume they were.

The Koenigsegg CCX is one of the rarest supercars in the world, with only 25...

We’ve never believed in a car being cursed, but there’s definitely something unlucky about this sad looking supercar from Swedish manufacturer Koenigsegg. This particular incident involved a blue 2008 CCX that was damaged by a dealer in New York who decided to take the customer-owned supercar for a quick spin. The unfortunate dealer ended up crashing into a guardrail and also managed to damage a 2009 Porsche GT2 in the process--no word on whether the two cars were racing, but in circumstances such as this it probably would be safe to assume they were. The Koenigsegg CCX is one of the rarest supercars in the world, with only 25 examples being produced, of which only 10 made their way to North America. If you’re interested, even one of the used examples will set you back close to a million dollars. This isn’t the first time we’ve reported on a crashed Koenigsegg CCX. In fact, it isn’t even the second time. In 2006 a man in Norway crashed one into a ditch within 18 hours of taking delivery of the car from Norwegian millionaire Tommy Sharif who spun out of control in it before deciding to get rid of it. Head over to Wrecked Exotics to check out the damage of the latest CCX crash. Read More

Koenigsegg's purchase of Saab had been rumored to be in trouble due to financing issues, but the Swedish government's decision to guarantee the $610 million loan sought from the European Investment Bank today shores up the purchase.

General Motors and Koenigsegg reached an agreement for the sale of Saab back in August, but the deal hasn't been completed as Koenigsegg has struggled to come up with the funding to buy out 100% of GM's interest under the terms of the deal.

Sweden's eagerness to keep Saab, as well as Volvo, within its borders, no doubt plays into the decision to back the Koengigsegg Group's purchase of the brand.

Even after...

Koenigsegg's purchase of Saab had been rumored to be in trouble due to financing issues, but the Swedish government's decision to guarantee the $610 million loan sought from the European Investment Bank today shores up the purchase. General Motors and Koenigsegg reached an agreement for the sale of Saab back in August, but the deal hasn't been completed as Koenigsegg has struggled to come up with the funding to buy out 100% of GM's interest under the terms of the deal. Sweden's eagerness to keep Saab, as well as Volvo, within its borders, no doubt plays into the decision to back the Koengigsegg Group's purchase of the brand. Even after the sale of Saab, however, GM will continue to share technology and services through an agreement like that between Penske and GM for the Saturn brand. Unlike the failed Penske-Saturn deal, Koenigsegg's purchase isn't dependent upon further supply contracts from other carmakers. Saab is already planning to launch three new models over the next 18 months, including the 9-3X, 9-4X and the recently revealed next-gen 9-5 (pictured). [Reuters] Read More

Swedish supercar maker Koenigsegg's parent company is currently tangled up in the purchase of Saab, but that's not stopping the masters that build the CCX from advancing their craft, as proved by the CCXR Trevita revealed today.

The car is named from a Swedish contraction meaning "three whites," which signifies the unique silvered carbon fiber bodywork of the Trevita. The company's Diamond Weave exposed carbon fiber bodywork is the epitome of high-tech's marriage of form and function.

Only three of the cars will be built. The core CCXR feature set is the basis, and each gets a double carbon fiber wing, paddle-shift transmission, Inconell...

Swedish supercar maker Koenigsegg's parent company is currently tangled up in the purchase of Saab, but that's not stopping the masters that build the CCX from advancing their craft, as proved by the CCXR Trevita revealed today. The car is named from a Swedish contraction meaning "three whites," which signifies the unique silvered carbon fiber bodywork of the Trevita. The company's Diamond Weave exposed carbon fiber bodywork is the epitome of high-tech's marriage of form and function. Only three of the cars will be built. The core CCXR feature set is the basis, and each gets a double carbon fiber wing, paddle-shift transmission, Inconell exhaust system, carbon ceramic brakes, a hydraulic lift system for getting around town a bit more easily, and a range of creature comforts including a custom navigation and entertainment system. Pricing for the Trevita hasn't been revealed, but expect it to be suitably super. As with most of the hot bits of automotive machinery cruising the 'Net these days, expect the Trevita to put in an appearance at the Frankfurt Auto Show next week. [Auto Motor & Sport Sweden] Read More

General Motors and Koenigsegg Group AB, a consortium led by supercar manufacturer Koenigsegg, reached an agreement last month over the sale of Saab after nearly two decades of American ownership. Under the agreement, GM would transfer 100% of the shares of Saab to Koenigsegg Group AB, but it appears that China’s Beijing Auto may also have a vested interest in the Swedish automaker.

Beijing Auto has signed a memorandum of understanding to take a stake in Koenigsegg Group AB, the new buyer of Saab. The agreement is supposed to help the Swedish firm finance its bid to take control of Saab and help fund any future products. Note however...

General Motors and Koenigsegg Group AB, a consortium led by supercar manufacturer Koenigsegg, reached an agreement last month over the sale of Saab after nearly two decades of American ownership. Under the agreement, GM would transfer 100% of the shares of Saab to Koenigsegg Group AB, but it appears that China’s Beijing Auto may also have a vested interest in the Swedish automaker. Beijing Auto has signed a memorandum of understanding to take a stake in Koenigsegg Group AB, the new buyer of Saab. The agreement is supposed to help the Swedish firm finance its bid to take control of Saab and help fund any future products. Note however that Koenigsegg Group AB is also supported by a number of U.S. and Norwegian investors, though their investments are expected to be significantly smaller than Beijing Auto’s interest. "This is an important step on the road toward a new Saab. We have a well prepared business plan, an important partnership and we are ready to proceed without state financing," Koenigsegg CEO Christian von Koenigsegg said in a statement. No financial terms of the memorandum of understanding between Koenigsegg Group and Beijing Auto were given. For more information on Koenigsegg Group AB’s future plans for Saab, check out our previous story by clicking here. Incidentally, Beijing Auto was also reportedly interested in acquiring Opel but with Magna International remaining the preferred buyer it appears the Chinese automaker’s interest has gone elsewhere. [AutoNews, sub req'd] Read More

Many gearheads remember fondly the days when something like a first-gen Saab 900 Turbo might rumble past, sounding vaguely like the airplanes that were its ancestors and wearing an endearingly awkward shape. But once General Motors took over the carmaker much of the eccentricity was squeezed out to make room for mainstream acceptability. Get ready for things to change once again with new owner Koenigsegg behind the wheel.

It's been almost 20 years since GM bought a majority interest in Saab back in 1990, but with its own core operations in serious trouble, it's time for the two companies to part ways - and none too soon for Saab, if Baard... Many gearheads remember fondly the days when something like a first-gen Saab 900 Turbo might rumble past, sounding vaguely like the airplanes that were its ancestors and wearing an endearingly awkward shape. But once General Motors took over the carmaker much of the eccentricity was squeezed out to make room for mainstream acceptability. Get ready for things to change once again with new owner Koenigsegg behind the wheel. It's been almost 20 years since GM bought a majority interest in Saab back in 1990, but with its own core operations in serious trouble, it's time for the two companies to part ways - and none too soon for Saab, if Baard Eker, the Norwegian owner of 49% of Koenigsegg, is to be believed. Eker wants to re-awaken Saab's 'soul and spirit', which slumbered under GM's tenure. GM itself admits the need for a re-invigoration at Saab, according a Reuters report quoting Eker. "Saab has to refine their quality level, their soul and spirit and we believe that this is something we can help with," said Eker. "The most interesting thing is that GM thinks the same." So what will Eker do to revive Saab's hibernating quirkiness? Whatever it is, it'll be environmentally friendly. According to Eker, going green, "is something the smaller companies can more easily attend to because it is much quicker to turn around a smaller company." Some of the speculation on what may be coming from Saab in the near future includes rumors of the Quant electric supercar (pictured) and the Saab 9-3X, 9-4X and 9-5. With a lineup like that it'll take a while to distance Saab from its recent GM history, but perhaps that will give Saab and Koenigsegg time to find a balance that ensures it's Saab's - and not Koenigsegg's - sense of quirkiness that shines through in the future.2010 Saab 9-4X spy shots2010 Saab 9-5 spy shots2010 Saab 9-3X crossover spy shotsKoenigsegg Quant Concept Read More