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Koenigsegg Biography

Source(google.com.pk)

Koenigsegg Automotive AB Swedish pronunciation( listen)) is a Swedish manufacturer of high-performance sports cars based in Ängelholm.

The company was founded in 1994 in Sweden by Christian von Koenigsegg, with the intention of producing a world-class supercar. Many years of development and prototyping led to the company's first street-legal production car delivery in 2002.

Koenigsegg Automotive AB is a non-listed free traded Swedish Public Company. The Company has around 90 shareholders. As the company is free trading the number of shareholders can vary. Christian von Koenigsegg is the CEO and a major shareholder.

In 2006 Koenigsegg began production of the CCX, which uses an engine created in-house especially for that vehicle. The CCX is street-legal in most countries.

Apart from developing, manufacturing and selling the Koenigsegg line of supercars, Koenigsegg is also involved in "green technology" development programmes beginning with the CCXR ("Flower Power") flexfuel supercar and continuing through the present with the Agera R. Koenigsegg is also active in development programs when it comes to plug-in electric cars' systems and next-generation reciprocating engine technologies.

In March 2009 the Koenigsegg CCXR was chosen by Forbes to be one of the ten most beautiful cars in history.

In December 2010 the Koenigsegg Agera won the BBC Top Gear Hypercar of the Year Award.On 11 June 2009 the media reported that Koenigsegg Group, consisting of Koenigsegg Automotive AB, Christian von Koenigsegg, Bård Eker and a group of investors had signed a letter of intent with Saab to take over the brand from General Motors. General Motors confirmed on June 16 that they had chosen Koenigsegg Group as the buyer of Saab Automobile. The deal, set to close 30 September 2009, included US$600 million in financing from the European Investment Bank, guaranteed by the Swedish government. By comparison, in 2008 Koenigsegg with its staff of 45 produced 18 cars at an average price of US$1 million each; Saab employed 3,400 workers and made more than 93,000 cars.

General Motors announced on August 18 that the deal had been signed although certain financing details remained to be completed. On 9 September 9, 2009, Koenigsegg announced that BAIC was going to join as a minority stakeholder in Koenigsegg.

In November 2009 Koenigsegg decided not to finalize the purchase of Saab and therefore left the negotiations. The reason for the withdrawal was that the take over was planned to have been finalized in early Autumn, and at the end of November it was clear that the deal still had some time left before it could be concluded. The timing uncertainty of finalization of the take over was the reason Koenigsegg stated for leaving the deal.