Saab negotiating an investment and production deal with three Chinese carmakers

Article by Christian Andrei, on April 29, 2011

It’s possible that any day now, Saab will announce that it will enter an investment and production agreement with a Chinese carmaker, sources told Bloomberg News. Reportedly, Saab has been in talks with Great Wall Motor Co., China Youngman Automobile Group Co. and Jiangsu Yueda Group Co.

The sources said that the negotiations with all three companies are moving forward. Saab is looking for a Chinese partner to raise funds throughout a cash crunch that has compelled it to stop production.

Saab is likely hoping to tap into the market of the world's largest auto market. The sources also said that a Chinese partnership agreement would most probably include an investment in Saab as well as form a joint venture to build Saab vehicles in China.

It’s possible that the Chinese carmaker will carry the Swedish brand at its dealerships.

The sources said further that the production aspect of the Saab deal will continue to concentrate on the Chinese company to build the updated 9-3 model that’s set to release late next year.

Great Wall Motor, the largest maker of pickup trucks in China, is one of several Chinese companies that may form a joint venture with Tata Motors Ltd.'s Land Rover. Chairman Wei Jianjun said last month that so far, "nothing concrete" had been achieved by the talks.

Topics: saab, china, investment

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