Fleets running Saab cars will welcome news that the first steps to rescuing the Swedish manufacturer have been taken.

General Motors and the Swedish sportscar maker, Koenigsegg have signed a memorandum of understanding for the purchase of Saab.

The agreement means Saab's plans to produce its next generation 9-5 models in the Saab production facility in Trollhättan, Sweden should be realised.

Several major UK lease companies stopped writing new Saab business in late February after Saab went into the Swedish equivalent of bankruptcy protection.

Many are now revising their decision with a view to beginning writing Saab business once again.

The sale, expected to close by the end of the third quarter of this year, includes an expected $600 million (£364.6 million) funding commitment from the European Investment Bank guaranteed by the Swedish government.

Additional support is to be provided by GM and Koenigsegg to fund Saab's operations and product program investments.

This includes plans to launch several new products that are in the final stages of development.

This tentative agreement is seen as a key milestone for Saab to successfully emerge from the bankruptcy process.

"This is yet another significant step in the reinvention of GM and its European operations," said GM Europe president, Carl-Peter Forster.

"Saab is a highly respected automotive brand with great potential.

"Closing this deal represents the best chance for Saab to emerge a stronger company.

"Koenigsegg Group's unique combination of innovation, entrepreneurial spirit and financial strength, combined with Koenigsegg's proven ability to create world-class Swedish performance cars in a highly efficient manner, made it the right choice for Saab as well as for General Motors."

GM will continue to provide Saab with architecture and powertrain technology during a defined time period.

"The proposed agreement will enable us to maximise the brand's potential through an exciting new product line-up with a distinctly Swedish character.

"This announcement is great news for Saab's current and future customers, dealers, suppliers and employees around the globe," said Jan Åke Jonsson, managing director of Saab Automobiles.