BAIC wants to invest in Saab

Article by Christian A., on August 27, 2010

The Beijing Automotive Industry Holding Corporation, which now wants to partner with Saab, had actually been involved in a failed attempt to purchase Saab from General Motors.

BAIC CEO Wang Dazong said that the Chinese automaker has a "durable interest" in expanding the partnership with Saab. Wang also said that BAIC is prepared to invest in Saab.

It can be recalled that last year, BAIC submitted a bid for Saab but it was ultimately rejected. GM picked Koenigsegg later on but the transaction fell short. It was Spyker Cars N.V. that was eventually able to negotiate a deal for the brand, paying nearly $400 million last February.

Last December, BAIC bought the rights and tooling to the previous-generation 9-5 and 9-3 models for $188 million. Later this year, a BAIC version of the 9-5 is expected to be launched in China.

Furthermore, BAIC has entered an agreement to sell Saab through its Chinese dealer network, expanding the Swedish automaker's global presence.

BAIC appears to be expanding its alliance with the carmaker. For now, we could only speculate it this would be in the form of an investment in the company or as a technological partnership.

In the first quarter of 2010, Spyker CEO Victor Muller had said Saab was investigating several potential partnerships with other automakers that could provide the small firm access to parts, components, and technologies, or help amortize the cost of developing new product. [via automobilemag]

Topics: baic, saab, investment

If you liked the article, share on:

Comments

Recommended

The new 2018 Ford Mustang GT, when equipped with its optional Performance package, will be able to produce 460 horsepower. It also comes fitted with Michelin Pilot Sport 4S tires...
by - October 19, 2017
It’s not as if the Porsche 718 Boxster and Cayman are not already impressive cars. The automaker has just given us more reasons to love the twins. The 2018 model...
by - October 19, 2017
After months of dropping online teasers, Polestar finally reveals its very first production car virtually. The Polestar 1 is a two-door coupe that gets its design inspiration from the 2013...
by - October 19, 2017
While the official premiere of 2018 Jeep Wrangler (JL/JLU) is already set this December, fans everywhere rejoiced at having had something like this appear on the web. Yes, everything we...
by - October 19, 2017
South Korean carmaker Kia will try to follow up the success of its Sportage compact sports utility vehicle by introducing a smaller SUV (subcompact) in the United Kingdom in the...
by - October 18, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries