"We're obviously very disappointed with the decision to pull out of the Saab purchase," said GM President and CEO, Fritz Henderson.
"Many have worked tirelessly over the past several months to create a sustainable plan for the future of Saab by selling the brand and its manufacturing interests to Koenigsegg Group AB. Given the sudden change in direction, we will take the next several days to assess the situation and will advise on the next steps next week," Henderson added.
In September, Koenigsegg Group AB had signed a Memorandum of Understanding (MOU) with Beijing Automotive Industry Holdings Co. Ltd. (BAIC) to explore growth opportunities in the Chinese and international markets for the products of both SAAB and BAIC.
The Swedish sports car maker has yet to release an official statement on the matter.