Victor Muller, Spyker chief executive officer, believes he can make Saab a credible rival to BMW and Audi within two-years of ownership.

Muller told the BBC Saab will return to production levels of up to 120,000 cars a year within the next two years.

The ambitious plan all rests on Saab’s entire line-up being renewed and Spyker has already suggested making a rival to the BMW 1-series called the 9-1.

Muller said Spyker would help with new designs to help close the gap between Saab and its German rivals in terms of premium quality.

Spyker has already paid £47 million to acquire Saab from General Motors and will have to find a further $24 million (£21m) by July to complete the sale and carry out its product plans.

Saab will get €400 million (£348m) from the European Investment Bank, but the money has to be used for the Swedish brands operations rather than funding the acquisition.