According to the New York Times, GM has agreed to sell Saab to the small Dutch company, Spyker Cars.

Spyker, known for it’s high-end sports cars, will breathe new life into Saab, which otherwise, would probably ceased to exist.

GM Saab facilities, based in Sweden, had already initiated shutting down at the start of 2010. The sale to Spyker will stop the scuttling of the Saab infrastructure and see the facilities start producing Saab vehicles again.