Home News BAIC Reaches Deal with Saab
BAIC Reaches Deal with Saab
Monday, 14 December 2009 11:18

Major news outlets are reporting that BAIC and General Motors have come to an agreement for the acquisition of Saab technology involving the present (outgoing) 9-3 and 9-5 models. But far from signaling a liquidation of Saab, the deal is actually expected to solidify the prospects for the brand's continuation. A report in Automotive News noted:

Saab believes that a deal to sell some key assets to Beijing Automotive Industry Holdings Co. will help secure the money-losing automaker's future. "The money will finance the new Saab and contribute to a good start under new ownership," Saab spokeswoman Gunilla Gustavs said without revealing financial details of the deal.

BAIC will own all technologies and tooling related to the "old" 9-5, and will also obtain minimal technology related to the 9-3 model, according to sources mentioned in the linked article above.