Saab Automobile filed for bankruptcy in 2011 after failing to recover from severe financial problems.
The Swedish automaker began producing cars under the Saab brand in the late 1940s and became known for distinctive, safety-focused vehicles. General Motors acquired full ownership of Saab Automobile in 2000, but the company continued to lose money.
After a proposed sale to Spyker Cars and Chinese investors failed to secure necessary approvals, Saab filed for bankruptcy in Sweden on December 19, 2011. Production had already stopped because suppliers were unpaid. The bankruptcy administrator later sold major assets to National Electric Vehicle Sweden.
Saab Automobile is distinct from Saab AB, the Swedish aerospace and defense company. The automobile business was separated from the defense company decades earlier, even though both used the Saab name and griffin branding.