Beijing Automotive Industry Company (BAIC) buys a stake in Koenigsegg
By Andrew C., 30 Aug, 2010. 0 Comments
Beijing Automotive Industry Company (BAIC) just signed a deal to acquire a stake in Koenigsegg Group AB, in order to help the Swedish group to takeover Saab Automobile. "This is an important step on the road toward a new Saab. We have a well prepared business plan, an important partnership and we are ready to proceed without state financing," said Koenigsegg CEO Christian von Koenigsegg.
Unfortunately nobody told anything regarding the financial terms but our sources confirmed the fact that the two companies are planning to work together on expanding Saab's and BAIC's products in China but also on other markets.
[via autocar]
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