Cars
It was confirmed today that General Motors has come to an agreement with Beijing Automotive Industry Holdings Co. Ltd (BAIC) for the sale of certain key assets from SAAB. BAIC, China's fifth-largest automaker, bought the intellectual rights for Saab's current 9-5 and certain 9-3s as well as some powertrain technology and tooling equipment. The agreement does not include the new 9-5 saloon that's based on the Opel Insignia.
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At the end of 2009, Saab, in an effort to recoup some dough back when it was a part of GM, sold BAIC (Beijing Automotive Industry Holdings Co. Ltd.) the rights to use some old models/designs. Basically, BAIC will be able to use older 9-3 and 9-5 models'...
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Citing unnamed sources, Sweden's Ny Teknik newspaper reported today on its website that Saab has sold the production tools for its outgoing 9-5 model to China's Beijing Automotive Industry Holding Corp. (BAIC). Saab refused to confirm or deny...
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Cars
GM Sells SAAB 9-3, Current 9-5 and Other Assets to China's BAIC
It was confirmed today that General Motors has come to an agreement with Beijing Automotive Industry Holdings Co. Ltd (BAIC) for the sale of certain key assets from SAAB. BAIC, China's fifth-largest automaker, bought the intellectual rights for Saab's current 9-5 and certain 9-3s as well as some powertrain technology and tooling equipment. The agreement does not include the new 9-5 saloon that's based on the Opel Insignia.
The deal will see BAIC manufacturing the current Saab 9-5 and certain 9-3 models in China while Saab will also help the automaker to integrate various technologies into future BAIC vehicles.
"This arrangement is excellent for both parties, now and for the future," said Jan Ã…ke Jonsson, Managing Director of Saab Automobile.
"We have developed a good relationship with BAIC and look forward to working with them to integrate this Saab technology into their future vehicles," he added.
General Motors said that the deal with BAIC does not compromise in any way the sale of Saab to a new owner.
- China's Baw Redoes The Saab 9-3: New C60 Sedan Snagged Ahead Of Beijing Show
These are the first pictures of BAW's (Beijing Auto Work) C60 sedan that was caught under GLAD wraps just a few hours before its world premiere at the 2010 Beijing Motor Show that runs from April 23 to 27. It's not hard to see the similarities...
- Baw's Chinese Saab 9-5 Clone Teased In Beijing Auto Show Poster
At the end of 2009, Saab, in an effort to recoup some dough back when it was a part of GM, sold BAIC (Beijing Automotive Industry Holdings Co. Ltd.) the rights to use some old models/designs. Basically, BAIC will be able to use older 9-3 and 9-5 models'...
- China's Baic Buys Equipment For Old 9-5 From Saab, According To Swedish Newspaper
Citing unnamed sources, Sweden's Ny Teknik newspaper reported today on its website that Saab has sold the production tools for its outgoing 9-5 model to China's Beijing Automotive Industry Holding Corp. (BAIC). Saab refused to confirm or deny...
- Breaking News: Koenigsegg Terminates Agreement To Buy Saab From General Motors
General Motors has just announced that the proposed sale of its Saab unit to a consortium led by Swedish sports car maker Koenigsegg has been canceled. And this time, it's not because the Detroit automaker wanted to keep Saab as was the case with...
- China's Beijing Auto Wants To Buy Previous Saab 9-5 Tooling And Design Rights
As the saying goes, another man's trash, well you know the rest... Citing unnamed sources, UK's Autocar magazine is reporting that China's Beijing Automotive Industry Corporation (BAIC) is interested in buying the tooling and design rights...