Saab is planning a return to its old-brand values with an extended model range as it prepares for a new, independent future owned by a joint U.S.-Scandinavian investment team.

Swedish supercar maker Koenigsegg grabbed headlines as the buyer from General Motors, but Koenigsegg is just one of at least three major investors. The others are West Coast entrepreneur Mark Bishop and Norwegian holding company Eker Group.

So far, Christian von Koenigsegg has been the consortium’s point man on the deal, but he has given little detail on exactly how the new Saab will be organized and financed, apart from hinting that the GM-led Saab lost its brand focus.

What we do know is that there is a $600 million loan on the table from the European Bank and that GM has pledged an additional $500 million, to fuel future product development. This will revolve around a model range based on three GM platforms for the next decade--Epsilon 2 for the next 9-5, Theta/Epsilon 2 for the all-new 9-4X and Delta 2 for the next 9-3.

Meanwhile, the Swedes will feed back to Detroit their expertise on hybrids and the cross-wheel-drive AWD transmission. The sophisticated Haldex setup is now in the 2010 Cadillac SRX, due out in late July. The primary focus, however, is to get the 9-5 sedan into production by next summer. That can’t come a day too soon, since the current 9-5 is 13 years old.

But starting production--in Sweden--could prove to be a major hurdle. The 9-5 is a long-wheelbase version of the new Opel Insignia, which is partially tooled for assembly at Opel’s plant in Russelsheim, Germany. Those production lines will have to be taken apart, transported from Germany and rebuilt in Sweden.
The 9-5 sedan is spied.
A picture of The 9-5 sedan is spied.
Brenda Priddy & Co.

The 9-5 sedan is spied.

Saab’s business plan is reasonable, based on minimum production of 130,000 units a year, or about what Saab built in 2006. Strong profitability will come at 150,000 units or more. The company sold 93,000 cars in 2008.

Cutting the GM apron strings should clean up Saab’s financial position. Last year, GM’s accountants said Saab lost $384 million, but the word from Sweden is that money from sales in the States never came back to the homeland, making the company’s financial position look worse than it really was.

Will the future be so kind? Porsche has made a great business out of being a profitable car company with sales of 100,000 cars per year, but it sells most of its cars with higher sticker prices than Saab.

If Saab can get its post-GM products right--even if they are based on GM platforms--the company could be set up for a highly successful future.