The concept car's name was chosen at a time when the troubled Saab company had just been sold to Spyker by General Motors), ready to rise again, like the mythical bird the phoenix.

[1] However, at the time PhoeniX was unveiled, Saab went formally bankrupt, unable to cover their bills.

[3] The car is equipped with the new hybrid all wheel drive systems that is being developed in cooperation with American Axle (AAM).

The car is also fitted with IQon, an in-car information system that runs a customized version of Google Android.

[5] The rights to the PhoeniX platform are 100% owned by Saab, but it uses some parts (less than 10%) that are bought from GM.