Saab Officially Sells to Beijing Automotive Industry Holding Co
Drumroll please…Ladies and gentlemen – your FUTURE Saab asset owners are the one, the only – Beijing Automotive Industry Holding Co. This deal, made official yesterday and made public just last night, was for the ownership of assets such as the Saab 9-3 and 9-5 from General Motors to BAIC.
This news comes from the Swedish business newspaper Dagens Industri – Chinese automaker Beijing Automotive Industry Holding Co. (BAIC, as the kids are calling it) has paid $197 million for the rights to the 9-5 model as well as some technology from the 9-3.
This amount affords Saab/GM only three more months of operating funds. As we reported earlier in the week, The General is still talking with Dutch automaker Spyker to purchase Saab. If a buyer isn’t found, GM will simply close Saab down for good.
Leave a Reply