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Saab Automobile signed a deal to begin using BMW engines as the struggling Swedish automaker seeks to restore its profitability and prestige.

Saab Automobile reached an agreement with Bayerische Motoren Werke AG that will let the Swedish automaker use BMW engines. Initially, Saab will buy BMW engines for its 9-3 model, which is due to be launched late 2012, Bloomberg News reported without naming its sources. Sponsored Links Spyker...

Less than a year after Saab was given up for dead when GM couldn't find a buyer, and five months after it was acquired by Dutch automaker Spyker, the quirky Swedish car's biggest fans are feeling a bit more optimistic about the brand's future.

GM finalizes its sale of Sweden's Saab to Dutch luxury carmaker Spyker. But GM's planned sale of its Hummer division to China's Tengzhong may be running out of time.

Unswayed by the latest offer from Dutch sports car maker Spyker Cars, Detroit-based GM is preparing to mothball Saab for good, The Economic Times has reported, citing a news report published Wednesday in Sweden.

After announcing Friday that it would shutter Swedish car maker Saab, GM has reportedly received several inquiries from potential buyers. One is from previously rejected Saab suitor Spyker Cars, which has submitted a revised bid that expires at 5 p.m. Monday. Spyker says that it has removed the obstacles that ended negotiations previously.