Saved at the proverbial 11th hour, Saab is back in business, the first 2011 9-5 shown here rolling off the assembly line.

Swedish automaker Saab is back in business again – and looking to expand its line-up.

After a temnporary shutdown that many thought would become permanent, the maker’s factory in Trollhattan is rolling again, the first car down the line the new 2010 Saab 9-5 sedan.

One of four General Motors brands that the automaker had planned to shed following its bankruptcy, last year, Saab appeared doomed to a fate similar to that of Pontiac, Saturn and Hummer, all of which GM now plans to toss onto the automotive rust heap.  An initial offer from Scandinavian supercar maker Konigsegg was rejected when that company couldn’t come up with the cash.  But just as GM closed Saab’s plants and dissolved its board of directors, an alternate bid from Dutch sports car manufacturer Spyker came through.

It’s taken a month to lock everything into place and get the factories humming again.  But for now, at least, Saab is up and running again.  That’s good news for buyers around the globe who’ve been placing orders for the new 9-5 despite the uncertainty about Saab’s future.

Ironically, the new model has been getting what may be the best reviews for a new Saab offering since the endlessly-troubled company was originally taken over by General Motors.

“Today’s resumption of production is a milestone in the history of our company” said Saab Automobil CEO Jan Åke Jonsson. “We are up and running as an independent manufacturer and I am delighted to share the experience on the line alongside our workforce. They have shown tremendous commitment to the company and we are all now focused on ramping up production to meet customer demand.”

The question is now what?  Company officials stress the Trollhattan plant is “highly flexible,” which translates into the ability to produce a variety of models on the line. A press release from the maker issues a good clue as to what comes next: a SportCombi, or wagon, version of the new 9-5 will bring the Trollhattan product count to five.

But Jonsson and new owner Victor Muller are looking even further ahead.  They told TheDetroitBureau.com that they’d also like to add a new entry-level Saab, which would revive the 9-2 nameplate.  The challenge, Muller acknowledged, is that the initial round of funding that allowed Spyker to buy Saab isn’t enough to bring the 9-2 to market.  But he says he is confident additional capital can be lined up.  If he’s right, the smaller Saab could hit market by the 2013 model-year.