Saab

In 1937, with the threat of a new world war looming, Sweden decided it needed a domestic aircraft industry to protect its neutrality. This led to the creation of Svenska Aeroplan Aktiebolaget, or Saab, on April 2nd, 1937, founded by figures including Marcus Wallenberg, Axel Wenner-Gren, and Sven Wingquist. The company's initial purpose was to build military aircraft for the Swedish Air Force. After the war, with demand for military planes expected to fall, Saab diversified into civilian applications, most notably automobiles, launching its first car, the Saab 92, in 1949. This began a decades-long chapter where the Saab name became known for both innovative aircraft and distinctively designed cars. In 1969, Saab merged with the truck and bus manufacturer Scania-Vabis to form Saab-Scania AB. A pivotal moment came in 1990 when the car division was restructured into Saab Automobile AB, a joint venture with General Motors. This partnership eventually led to GM taking full ownership of the car company in 2000. However, the original parent company, Saab AB, continued its focus on aerospace and defense. In 1995, Saab-Scania was de-merged, making Saab AB an independent defense company once again, listed on the stock exchange. While the car brand ultimately ceased production after filing for bankruptcy in 2011, Saab AB thrives today as a global defense and security company, a journey that began with the simple need to secure a nation's airspace.