Saab's white knight seeks creative revival

By Wojciech Moskwa

OSLO (Reuters) - Baard Eker, the Norwegian designer behind the unlikely bid for General Motors' Saab unit, wants to rejuvenate the "soul and spirit" of the loss-making Swedish carmaker and lead a creative revival in the auto industry.

Eker controls tiny Swedish supercar maker Koenigsegg and has helped get Norwegian and U.S. financial investors to buy Saab from GM, in what is one the strangest twists yet in the ongoing restructuring of the global auto industry.

"Saab has to refine their quality level, their soul and spirit and we believe that this is something we can help with," Eker told Reuters in a telephone interview.

"The most interesting thing is that GM thinks the same," added Eker, whose company owns 49 percent in Koenigsegg, designs the supercars as well as other luxury items such as speedboats and top-of-the-line video projectors.

Eker would not be drawn on the specifics of negotiations with GM, which could last several more months, but said that private investors had placed their faith and money in his Saab bid at a time when the credit crisis still hobbled liquidity.

"There is not as much capital around these days, but there is also not as many interesting projects, and we have been told that this is a very interesting project to be a part of financially," said Eker, 47.

Koenigsegg's offer, which is backed by the Swedish government, has raised eyebrows because it entails the purchase of a company producing nearly 100,000 cars per year by a firm which annually sells just dozens of its $1 million two-seaters.

GREENER SAAB?