Tag Archives: Christian Von Koenigsegg

Koenigsegg Group Attend Saab Press Conference In Geneva

Posted on 02. Mar, 2010 by .

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Photo Credit: Dimitri Baumgartner & Frederic Demaret Saabhuy.Net

Christian Von Koenigsegg & Bard Eker of the Koenigsegg Group attended the Saab Press Conference Today. They are on the top right with the white collars, one with an orange lanyard to the far right (Bard Eker), and CvK with the orange tie, two people to the left.

As you may recall, it was the Koenigsegg Group that terminated their intent to buy Saab back in November.

I wonder what they are thinking now, watching as Spyker are now the owners of Saab.

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Koenigsegg Group Visiting Saab Automobile Today

Posted on 25. Nov, 2009 by .

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Photo Credit: TTELA

TTELA reports that Christian von Koenigsegg and Bard Eker are now visiting the Saab factory in Trollhattan, Sweden to discuss this deal that they withdrew from.

It seems, that they are fully willing to tell all about why exactly they pulled out. This is for business people, quite amazing. I really hope to hear more details from them here so we can learn what’s up and why this all went down like this.
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SVT To Show Koenigsegg Documentary Nov 1-7

Posted on 02. Nov, 2009 by .

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Sweden’s TV (SVT), has once again produced a documentary following their documentary of Saab’s former owners, before GM, the Wallenberg’s, are now showing a documentary featuring Saab’s new owners, the Koenigsegg Family.

If you are in Sweden, you can watch it at home on your television this Sunday. If you are anywhere else in the world, I thought that you would be able to watch it on SVT’s 24 online television channel, however SVT has limited it to Sweden only, which is most unfortunate.

However, a Swede has conveniently posted it on Youtube, in 6 separate parts for everyone in the world to enjoy!

Here they are (Part 1, Part 2, Part 3, Part 4, Part 5, Part 6)
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Christian Von Koenigsegg Interviewed About Saab Vision

Posted on 27. Oct, 2009 by .

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Car Magazine has interviewed Christian Von Koenigsegg about his vision for Saab Automobile. If you have not learned much about CvK and his vision for Saab, please read this interview in addition to the on camera interview I did back in September.

What’s surprising in this interview is that CvK admits it was not his idea, but previous investor, Mark Bishop’s idea for Koenigsegg to buy Saab from GM.

Read the rest below.

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Photo Credit: Getty Images

By Tim Pollard

27 October 2009 11:12

We meet Christian von Koenigsegg in Ãngelholm in the old flying squadron offices of Koenigsegg Automotive’s offices. A new supercar rolls out of the old Jas hangar every fortnight on average, each built by hand. The rolls of carbonfibre lying around serve as a reminder that life is about to become very different. Koenigsegg is leading the masterplan to buy Saab from GM, a deal which is dragging on as funding and legal loops are jumped through. A perfect time then, for CAR to interview Christian von Koenigsegg on his plans. He talks candidly about future product, the chances of reviving the Sonnet sports car brand, launching a sub-9-3 Mini rival and returning to rallying.
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Koenigsegg Group Hope For Completion in November

Posted on 22. Oct, 2009 by .

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The Koenigsegg Group that is in the process of buying Saab from GM, hopes for this process to be wrapped up in November according to TTELA.

It looks like they will be waiting for the EU Commission as well as the Swedish Government, then the Koenigsegg Group & BAIC need to complete their deal, and then finally the sales process should be complete.

Koenigsegg hope for completion in November

Gothenburg CEO for Koenigsegg Group, Christian von Koenigsegg, was working at Saab’s office in Gothenburg where he was told about the EIB loan.

– It is an important milestone we have passed today, but many important milestones remain, and says he is well aware that the money not yet secured.

The money needs to fall into Saab’s account before the year end according to Koenigsegg.

– Timing is critical. There should be no more delays,” he says.

In addition to the news from the Debt Office and ultimately the government on state guarantees and the approval of the commission must Koenigsegg Group have clear agreement with the Chinese Beijing Auto, BAIC.

Negotiations with the former owner GM of Rights regarded as the most formal.

– We have found a way to break down. It is well emerged because we have negotiated a long time,” said Christian von Koenigsegg.

The new business plan will Saab be profitable at 100 000 cars sold. In addition, the company intends to cooperate with many different partners in the industry to be cost effective.

– We have a realistic view of where Saab is and how it should move forward,” said Christian von Koenigsegg to explain that the bank believes in the business plan.

To cope with that drive Saab to the company in 2012 is expected to be profitable on its own merits requires about 11 billion according to Koenigsegg. BAIC will contribute around three billion of the company becomes a minority owner of the Koenigsegg Group. But Beijing Auto’s interest based on that Saab may loan.

– All parties need to have everyone on board. I see before me that all processes will be completed on the same day, or almost. Probably in early November,” said Christian von Koenigsegg.

He does not want to go into the details of how the negotiations with BAIC go or if the Chinese company will be taking over the tools of the old 9-5. BAIC is interested in Saab’s technology.

An additional sponsor is not seeking Koenigsegg Group, owned by companies controlled by American businessman Augie K Fabel, Norwegian businessman Bard Eker and Christian von Koenigsegg.

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Saab & Koenigsegg Now Wait For EU Commission

Posted on 22. Oct, 2009 by .

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TTELA has recently provided another great article about the remaining steps in completing the EIB loan that was just approved.

These two pieces involve the EU Comission granting the loan and the Swedish Government accepting the responsibility of being a guarantor.

Saab Now Wait For EU Commission

Since the EIB said yes we are now focussing our attention on the remaining pieces of the puzzle in this process. And especially one of them: How long will the EU Commission take on deciding whether to accept the matter?

Time is something that is scarce for Saab. Partly because their money won’t last forever, but also because each day of low production is a bit of a lost day.

– We have no real cause for concern, but we are still very keen to get started with what we have in the pipeline”, says the information manager Eric Geers.

But before the Saab is through the loan process, the State must provide the loan guarantee required by the EIB. And the guarantee must in turn be approved by the European Commission, to ensure that it does not violate state aid rules.

Commission splits time frame?

the Ministry of Industry submitted a notification nearly three weeks ago, but no one seems to now know how long the Commission needs to come to a decision.

– Their position is perhaps nothing that concerns us, but it’s timing that feels a bit unsure,” says Paul Akerlund on Saab IF Metall club.

For the same view, Christian von Koenigsegg.

– Timing is critical. There should be no more delays,” he says.

Saab’s goal to have everything ready by late October or early November will not hold if the Commission needs the two months that was rumored.

TTELA searched yesterday, Jonathan Todd at the European Commission’s press department to clarify the issue, but the written response from Brussels made us not much wiser.

“The commission deals with the notification it received. It is too early to make any further comment.”

On the other hand, there is much to process with the Debt Office of the loan guarantee is near an end. The Debt Office has constantly worked to October 21.

– We will be reporting to the government, but when it becomes, I can not say today. Our intention is not to delay this, “says Erik Sjulander, Administrator of the National Debt Office.

GM’s lawyers in the City

In parallel with the loan process is also under final negotiations with Beijing Automotive, as well as the GM for all the service that must be set up at Saab and GM are separated.

– We sit there day and night now. This week and perhaps into the next, we have no through them one by one. It is not that we are not negotiated before, but now flies GM in their lawyers, “says Saab’s General Counsel Kristina Geer.

A little above the head of Saab, new owner Koenigsegg Group also agreed with Beijing Automotive, which is expected to inject billions of dollars and get a minority stake.

How far the negotiations have reached is unclear.

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The Swedish Press On The EIB Loan Approval Yesterday

Posted on 22. Oct, 2009 by .

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Here are two articles from Swedish Radio and The Local on the EIB Loan Approval yesterday.

Today endorsed European Investment Bank, EIB, Saab Automobile loan application. The decision is a stepping stone to the Swedish automaker to receive a loan of up to over four billion crowns.

It was a happy Christian von Koenigsegg that received the message.

– It is an important milestone in the shop, so it feels good.

What do you have convinced the Bank that this is something you can believe in?

– The overall picture, it’s business plan is, it’s Saab as a company, what they look like today and what future plans are.

After the EIB’s decision today opens the commission an audit to ensure that the loan does not conflict with state aid rules.

Christian Berggren, professor of Industrial Engineering at Linköping University, says there are many questions about Saab Automobile to get into a profitable business so that you can repay the loan.

– Based on the known facts about the automotive world and how it looks to rival firms so there must be something extraordinary in order to ensure credibility of this plan. Saab must have had wings again in any way, how can I say. If this works, then we rewrite the textbooks on the automotive and industrial economy of the automobile, for which there has been something that has not previously been possible.

According to Christian Berggren is the great danger that the bill for the loan goes to the Swedish taxpayers. And there are far better ways to support Swedish industry but to ensure that risky projects, he says.

But Christian von Koenigsegg says that taxpayers need not worry.

– Of course, Saab, and we do our best to make this to work, it is number one. Number two is that the Debt Office and thus the Swedish taxpayers have adequate security for its guarantee in the form of the securities Saab submits to the National Debt Office. In the end, there is collateral, but the main goal is to repay the money with a successful business.

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Sweden’s E24 On The EIB Loan Decision For Saab Tomorrow.

Posted on 21. Oct, 2009 by .

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Sweden’s E24 have provided a nice piece on what we can “hopefully” expect tomorrow when the EIB meet to determine the fate of Saab Automobile’s loan.

It’s very positive, of course optimistic given that it is before the loan decision, but it’s nice to read.

On Wednesday board meeting of the European Investment Bank, EIB. And the agenda is the development loan of just over 4 billion to Saab.

The investors behind the Koenigsegg Group, including CEO Christian von Koenigsegg and the Norwegian Bard Eker, have themselves expressed that the EIB loan is a precondition for the deal to go through.

Saab’s own assessment is that the EIB’s reply will be positive.

– We assess the probability as fairly high that the bank grants the loan, “says Eric Geers, Communications Director at Saab.

He is also hopeful that Koenigsegg Group, after all, be able to complete the acquisition of Saab, and this shortly.

– We have had very positive meetings with all parties involved. Everything rolls on as planned. Maybe we can finish the whole affair at the end of this month, said Eric Geers.

But even if the Bank gives a positive decision on Wednesday is still several pieces of the puzzle before the deal can fall into place.

– The Board’s decision is actually an authorization to initiate detailed negotiations on the financial contracts. It is so, then the detailed negotiations begin, “says Eva Srejber, Vice President of the EIB.

– The journey is not over, but the Board’s decision is obviously one of the most important milestones.

And the Bank will only loan conditional to the Swedish state-guaranteed loan. It remains also for the European Commission to assess whether the structure of government guarantee is in line with EU competition rules.

In the case of state guarantees, the Debt Office is making a recommendation to the Government which in turn take the decision itself.

Erik Sjulander, Head of Debt Office, has previously told the Norwegian press that the goal has been to the National Debt Office will be finished with its evaluation later than 21 October which is thus on Wednesday.

– It’s basically the ambition that we have. Since we depend on a lot of information from the EIB in order to complete our work. They include the term of the loan, the repayment schedule looks like and the exact amount. Ultimately, we need the EU Commission’s decision, “says Erik Sjulander.

– But we are working of course the question remains, and so it looks good.

EU Commission’s basic rule is that you must not give support to companies in financial crisis. Enterprises must be deemed viable.

While Saab has delivered year after year loss figures and last week presented the automaker’s sales figures which were really bad. In September, sales plummeted almost 62 percent compared with a year earlier. That compares with Volvo as sales grew by over 8 percent.

But the latest shock figures will at least not affect SNDO decisions in a decisive way.

– When we look at the business plan we look at the big picture – and to hear, of course, how Saab is now, but the business we are looking at is, after all, primarily forward looking, “says Erik Sjulander.

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