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BMW to supply future Saab cars with engines
Source: Agencies |
September 29, 2010, Wednesday
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SPYKER Cars NV, the owner of Saab, said it signed a deal with BMW AG today to supply its cars with engines in future models.
Financial details were not disclosed.
In a statement, Netherlands-based Spyker said it hoped the deal would help in its bid to become profitable.
Spyker bought Saab out of liquidation for US$74 million from General Motors Co. earlier this year. Spyker is highly indebted and making large losses, but hopes to return to profitability by 2012.
Wednesday's statement quoted BMW marketing director Ian Robertson as saying the deal was part of the company's strategy to grow powertrain sales.
Financial details were not disclosed.
In a statement, Netherlands-based Spyker said it hoped the deal would help in its bid to become profitable.
Spyker bought Saab out of liquidation for US$74 million from General Motors Co. earlier this year. Spyker is highly indebted and making large losses, but hopes to return to profitability by 2012.
Wednesday's statement quoted BMW marketing director Ian Robertson as saying the deal was part of the company's strategy to grow powertrain sales.
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