Spyker owned Saab could soon be getting a lot more praise with their new smaller two door. Saab really needs to do something to get closer to making a profit and this could be the solution.

If all goes according to plan, Car — which commissioned the rendering above — reports the Swedes could make the 9-2 part of its next-phase plan. Project partners could include GM, Ford, or one of the emerging Chinese automakers (a Swedish reunion via Volvo?), which could benefit from Saab’s expertise in turbocharging, green fuel tech and higher production standards.

General Motors and Spyker Cars NV today confirmed that they have reached a binding agreement on the purchase of Saab Automobile AB.

“Today’s announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM,” said John Smith, GM vice president for corporate planning and alliances.

“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,” Smith said.

As part of the agreement, Spyker intends to form a new company, Saab Spyker Automobiles, which will carry the Saab brand forward.  The sale will be subject to customary closing conditions, including receipt of applicable regulatory, governmental and court approvals.  Other terms and conditions specific to the sale will be disclosed in due time.

The Swedish government is at present reviewing the transaction and the related request for guarantees of a Saab Automobile loan that has been requested from the European Investment Bank.  Assuming quick action, the transaction is expected to close in mid-February, and previously announced wind down activities at Saab will be immediately suspended, pending the close of the transaction.

“Throughout the negotiations, GM has always had the hope to find a solution for Saab that would avoid a wind down of the brand,” added Nick Reilly, president, GM Europe. “We’ve worked with many parties over the past year, including governments and investors, and I’m very pleased that we could come to such a good conclusion, one that preserves jobs in Sweden and elsewhere. GM will continue to support Saab and Spyker on their way forward.”

General Motors Chairman and CEO Ed Whitacre said at a Monday morning press conference that the automaker has no announcement regarding Saab despite media reports swirling around the globe that a deal to sell the Swedish automaker to Spyker is imminent.

“As of today, we have not changed our direction on the wind-down (of Saab),” Whitacre told reporters in Detroit. “There have been advanced talks but we do not have a deal to announce this morning. If and when that changes, we’ll let you know. And that’s my only comment on that issue.”

General Motors confirmed Tuesday that its planned sale of Swedish automaker Saab to Koenigsegg Group AB has collapsed with Koenigsegg terminating the sale.

What’s next for Saab has yet to be determined.

“We’re obviously very disappointed with the decision to pull out of the Saab purchase,” GM President and CEO Fritz Henderson said in a statement issued by GM. ”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.

The failed sale of Saab comes within weeks of GM’s halted sale of Germany’s Opel, though in that case, it was GM that decided not to sell Opel.