The parent company of Saab, Spyker Cars NV, is to sell its luxury sports car arm to UK coach-builder CPP for 32 million.
CPP has produced chassis and body panels for Spyker since 2000. Vehicle production of the C8 Aileron and all future Spyker models will be carried out at a new dedicated facility in Coventry.
'There was a split focus between Saab and Spyker cars, but now the management can really focus on the operation of Saab,' said a Spyker spokesman.
'It also reduces the company's debt and interest payments, so going forward the company is in a better financial position.'
Spyker Cars NV will change its name on May 19.