Saab Automobile AB has closed on the sale to Beijing Automotive Industry Holdings Co. Ltd (BAIC) of certain Saab 9-3, current 9-5 and powertrain technology and tooling. Saab will assist BAIC to integrate this technology into future BAIC vehicles.
This arrangement is excellent for both parties, now and for the future. We have developed a good relationship with BAIC and look forward to working with them to integrate this Saab technology into their future vehicles.—Jan Åke Jonsson, Managing Director of Saab Automobile
Late in November, Koenigsegg Group AB terminated the agreement for its proposed purchase of GM’s Saab. (Earlier post.) In September, Koenigsegg had signed a Memorandum of Understanding (MOU) with Beijing Automotive Industry Holdings Co. Ltd. (BAIC) to explore growth opportunities in the Chinese and international markets for the products of SAAB Automobile and BAIC. (Earlier post.)