Chinese Automaker BAIC Expresses Interest in Investing in Saab

#Saab, #9-5

We've heard Saab has been approached by several companies looking for a partnership, but it appears one may be the Beijing Automotive Industry Holding Corporation -- the Chinese automaker that once attempted to buy Saab from General Motors.

"We have a durable interest in deepening our partnership with Saab, and we are ready to invest in the company," said BAIC CEO Wang Dazong.

Last year, BAIC entered in the bidding process to buy Saab from GM, but its bid was ultimately rejected. GM went on to choose Swedish sports car manufacturer Koenigsegg as the buyer, but the transaction faltered. Ultimately, Dutch sports car company Spyker Cars N.V. negotiated a deal for the brand, paying nearly $400 million for the company back in February.

BAIC did get a piece of Saab, however. In December, it purchased the rights and tooling to the previous-generation 9-5 and 9-3 models for $188 million. A BAIC version of the 9-5 is expected to be launched in China later this year. Additionally, BAIC has inked a deal to sell Saabs through its Chinese dealer network, expanding the Swedish automaker's global presence.

BAIC does seem interested in expanding its relationship with the automaker. Although this could possibly be a mere investment in the company, we imagine it could also lie as a technological partnership. Earlier this year, Spyker CEO Victor Muller 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.

Source: The Local

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