Old Saab 9-5 Tooling Sold to Chinese BAIC

#Saab, #9-5

Beijing Automotive Industry Holding Corp has just struck a deal with Saab to purchase tooling for the most recent 9-5 model. The Chinese company will reassemble the equipment at one of its factories and market the car as its own.

Production of the decade-old 9-5 ended earlier this year, and the dismantling of the line began in October. Tooling will be headed to China shortly with a BAIC branded version of the 9-5 slated to roll off the assembly line early next year.

With the recent decision from Koenigsegg to not to buy the struggling Swedish automaker, the company may be forced to liquidate its assets. GM will continue to take bids for Saab through the end of the year. Saab will be forced to close down if it cannot be sold by the deadline. Dutch automaker Spyker has been rumored to be in talks about buying Saab, but nothing official has been announced.

The next-generation 2011 Saab 9-5 debuted in Frankfurt earlier this year. Will it see production?

Source: Reuters

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