Saab Automobile AB, better known as Saab (SAAB, an acronym for Svenska Aeroplan Aktiebolaget), is a Swedish car manufacturer owned by Spyker Cars NV. It is the exclusive automobile Royal Warrant holder as appointed by the King of Sweden. Since its inception, Saab has been known for innovation, pioneering significant advancements in ergonomics, green technology, safety and turbocharging. Originally the automobile manufacturing division of Svenska Aeroplan Aktiebolaget (English: Swedish Airplane Limited), later known as Saab AB, Saab Automobile was acquired by General Motors in 1990 who sold it to Spyker Cars in 2010. The sale was completed on February 23, 2010.