BAIC might still be interested in buying Saab
By Andrew C., 27 Aug, 2010. 0 Comments
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In contrast to reports that recently came out, Beijing Automotive Industry Holding Corp. might still be interested in buying Saab, according to the company's general manager Wang Dazong. When asked by reporters last Monday at the China-European Union business summit, Wang wouldn't confirm whether BAIC would approach General Motor Co.'s Saab as a solo buyer or only as a part of a consortium.
Wang asked that reporters stay tune for more updates. He also confirmed that BAIC's strategy of going global was still in place. Wang was quoted to have said, "For us, I don't see a need to buy a plant. I don't see a need to buy a building. I don't see a need to buy a robot. So what's left? You figure it out."
All eyes are on BAIC now that the consortium of which it was a member, led by Koenigsegg Group AB, group of private investors including Koenigsegg Automotive AB, withdrew from talks last week to buy Saab. These developments put the fate of BAIC in doubt. Wang had said that he cannot control GM's time table. Wang says however that BAIC is accustomed to doing things fast. [via autonews]
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