Saab sells production equipment for its old 9-5 models to BAIC
By Andrew C., 27 Aug, 2010. 0 Comments
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Even as a deal for a consortium that includes Beijing Automotive Industry Holding Corp (BAIC) to purchase Saab has collapsed, BAIC still was able to buy Saab's production equipment for its old 9-5 models, according to a report from Sweden's Ny Teknik newspaper. Reportedly, Saab had started to dismantle the production line for the old 9-5 in October. Saab plans to send the equipment to China and make preparations for its new 9-5 line, which will start production early next year. General Motors Co., Saab's parent company, had previously hesitated to sell anything that holds intellectual property rights but it probably made the exception because the 9-5 production equipment is significantly different from any other car it makes.
According to the Swedish newspaper, Saab engineers said that although the 9-5 was based on the Vauxhall Vectra, it actually shared only 35% of its parts with the Vectra.
As mentioned, BAIC was part of the failed takeover talks for Saab led by Koenigsegg however, it has been widely reported to be considering bidding alone. Meanwhile, sources have claimed that it has several serious bidders making an offer for the company. The wait won't be long as a Dec. deadline has been set to find a new buyer for the company. Otherwise, General Motors will wind it down. To date, Saab has not commented on these reports. [via autonews]
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