Auto Industry

Saab to Create 500 Jobs at Trollhättan

The news owners of Swedish carmaker Saab, Spykers Cars, said on Wednesday that they expected to create an extra 500 jobs at the Trollhättan plant by the end of the year.

The jobs are to be added to help with a sixfold boost in car production within the next two years.

Speaking in Paris, Victor Muller, the chief executive of Spyker Cars told the media that Saab could count on financial support totalling 1 billion US dollars and would become profitable for the first time ever in 2012.

Saab intends to produce 120,000 cars a year in 2012; the company made just 20,000 cars last year. Plans include expanding production capacity at the factory in Trollhättan.

Saab was rescued by Dutch luxury sportscar maker Spyker Cars in last-minute negotiations in January when the owner, General Motors, was about to close the business down as part of its own efforts to recover from bankruptcy.