GM and Saab to swap technology

General Motors Corp. and its unit Saab Automobile have agreed to swap technology for at least five years in an effort to make the loss-making Swedish brand more attractive to buyers, a news report said Wednesday.

Saab's finance director, Lars Hagerborg, told financial daily Dagens Industri that the Swedish car maker will be able to use GM's platform technology in exchange for Saab's safety, chassis and engine technology.

"GM will be a vital partner for Saab during at least five to 10 years, during which we, with a new owner, will have access to a large part of the technology we need," Hagerborg was quoted as saying.