Stockholm  - Saab, the loss-making Swedish subsidiary of US automotive giant General Motors Corp, is to file for bankruptcy protection, news reports said Thursday.

The reported move came a day after the Swedish government said it would not take over ownership of Saab after GM said it planned to shed the brand as part of its restructuring efforts.

Saab's board was due to meet Thursday to approve the plan to file for bankruptcy protection, according to Saab sources.

Swedish Enterprise Minister Maud Olofsson said Wednesday that a company reorganization of Saab was "the most realistic path."

"This could offer possibilities to develop the parts of Saab that are very good," she said, underlining that such a move was up to GM.

"The Swedish state and taxpayers will not own car plants," she added, saying she had conveyed that message during talks with GM.

Olofsson said the government's support to the vehicle-making industry consisted of three components - bank guarantees for a loan in the European Investment Bank (EIB), emergency loans and funds to a research and development company.

The R&D company aimed to utilize skills and knowledge in the vehicle-making sector, Olofsson said.

Saab employs some 4,000 people in Sweden, mainly at its plant in Trollhattan, south-western Sweden.

The US automotive giant's interest in Saab - one of Europe's smallest car makers - dates back to the early 1990s, and the concern took full control in 2000. (dpa)