BAIC Purchases SAAB Technology From GM
Time is running out for the Saab brand but BAIC, a Chinese automotive corporation has purchased intellectual rights to some of its powertrain technology. This will allow the Beijing company to produce the 9-3 and 9-5 sedans in China. Saab will also assist BAIC in developing its own brand vehicles. The Beijing Automotive Industry Holding Corporation already has a history of partnerships with Daimler and Hyundai.
This appears to be a positive step for both GM and Saab, towards the continuation of the Saab brand. The deal, however does not guarantee the survival of the brand. GM is still looking for a new owner, is it continues reorganization efforts. Swedish supercar manufacturer Koenigsegg backed out of a potential partnership with BAIC to purchase Saab, due to delays in funding.
Early this month, another possible bidder arrived on the scene. Dutch car maker Spyker, with a background in supercars and motorsports has expressed interest in the Saab brand as a whole. Although this would also aid the brand’s survival, there are still doubts about the overall image of Saab in recent years. Parties on both sides of the deal apparently remain positive about the future of the Saab brand.