Saab Automobile AB, better known as Saab, is a Swedish car manufacturer and currently a wholly-owned subsidiary of General Motors although this is due to change very soon. It is the exclusive automobile royal warrant holder as appointed by H.M., the King of Sweden. Since its inception, Saab has been known for its quirkiness; as it evolved and adopted ever more advancements to its turbocharging, safety and green technology. On 20 February 2009, the district court of Vänersborg received a request for reorganization from Saab. Parent General Motors plans to divest itself of the company by... the end of 2009. On 11 June 2009, a letter of intent was signed by Koenigsegg and a group of Norwegian investors to purchase Saab. Saab was originally created as a division of the Swedish Aeroplane Company . The company had been established in 1937 for the express purpose of building aircraft for the Swedish Air Force. With World War II nearing its end, the company began looking for new markets in which to expand. In 1944, Project 92 began, with the goal of creating the first Saab passenger car. Five years later, the Saab 92 began production.