Special Report: Global Financial Crisis    

    STOCKHOLM, Feb.20 (Xinhua) -- General Motors (GM) Corp.'s Swedish subsidiary Saab Automobile said Friday it had submitted a request for bankruptcy protection while it attempted to restructure its business.

    "Restructuring will allow parts of Saab to survive and could enable suppliers. As part of the process, Saab will formulate its proposal for reorganization, which will include the concentration of design, engineering and manufacturing in Sweden," Swedish public broadcaster SR quoted a GM statement as saying.

    The documents arrived at the District Court of Vaenersborg in western Sweden Friday morning, reported SR, adding that the court had approved the request later Friday.

    The move came after GM warned that Saab would have to file for bankruptcy protection "as early as this month" unless it received help from the Swedish government.

    Swedish Industry Minister Maud Olofsson has expressed "deep disappointment" at GM, emphasizing that it was GM, not the Swedish government, that was responsible for Saab's future.

    GM bought 50 percent of Saab in 1990 and acquired the remaining stake in 2000. Saab has gone into a severe crisis due to plunging sales in recent years.