Saab has been sold to a Chinese-Swedish investment group, six months after declaring bankruptcy.
The Swedish car manufacturer has been bought by National Electric Vehicle Sweden (NEVS) for an undisclosed sum.
However, petrolheads hoping for a revival of the mad cars for which Saab are famed will be disappointed as Saab intends to shift its focus to producing electric vehicles.
Saab has debts of 13bn kronor (£1.2bn) and employs around 3,000 people from its headquarters in Trollhattan, West Sweden. It is here that Saab's new electric car operation will be based.
Saab has suffered mixed fortunes since being bought by US automotive behemoth General Motors in 1989 and declared bankruptcy in December 2011, two years after being bought by Dutch group Spyker.
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