Car manufacturer Saab will be sold to Spyker after an agreement was struck with General Motors, it has been confirmed.

It is understood that the Swedish government worked alongside General Motors and Spyker to secure Saab’s future, with the decision having been welcomed by all parties.

The agreement states that Spyker will establish a new company, Saab Spyker Automobiles, which will be responsible for the Saab brand in the future. Further terms and conditions in the multi-million dollar deal are expected to be disclosed at a later date.

John Smith, General Motors’ vice president for corporate planning, said the agreement is "great news" for the company and Saab fans across the globe.

"General Motors, Spyker Cars and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we’re all happy for the positive outcome," he commented.

Spyker confirmed its initial interest in Saab in December after the Swedish company was due to be liquidated.

Motorists may be impressed with the range of high-tech car parts that feature in a new model from Saab.

The 9-5 saloon comes with adaptive headlights, a head-up information display, keyless entry and starting, dynamic parking assistance, dual-zone climate control and an adaptive chassis with damping control.

Saab claimed when the car arrives in showrooms in 2010, it will be an excellent alternative to other motors in the premium sector.

Buyers opting for a diesel version of the auto will find CO2 emissions start from 139 g/km.

However, there will be a petrol option and an E85 bioethonol-powered edition as well.

Managing director of the manufacturer Jan-Ake Jonsson commented: "We have created an advanced and very distinctive product by leveraging the power of our roots in key areas, such as progressive Scandinavian design, sporty driving and responsible performance."

Earlier this year, the Saab 9-3X crossover arrived on the UK market, priced at less than £25,000.