BAIC to make Saab design-based cars as soon as 2011
BAIC to make Saab design-based cars as soon as 2011
* First vehicles using Saab IP available as soon as 2011
* Exploring other opportunities, including green vehicles
Beijing Autos said Friday it wants to explore further cooperation with GM’s Saab Automobile such as “new energy vehicles,” after earlier announcing the purchase of car and engine technology from the struggling brand.
Beijing Automotive Industry Holdings President Wang Dazhong said Saab also wants his company to import and sell Saab brand vehicles in China, which this year became the world’s biggest auto market.
The state-owned company announced Monday it had agreed to buy some powertrain technology for Saab’s 9-5 and 9-3 sedans, including engine and gearbox knowhow.
In a briefing Friday, Wang would not say how much Beijing Autos paid.
Under the deal, Saab will also support Beijing Autos’ efforts to build its own car brands, using the Saab technology.
“We need to grow a global company,” Wang said. “We need to explore new opportunities to cooperate with Saab, such as in new energy vehicles.”
He said Beijing Autos’ sales are expected to pass 1.2 million vehicles this year.
BAIC purchased the rights to the current Saab 9-5 and previous 9-3 from General Motors earlier this month.
BAIC required the rights to produce vehicles based on the outgoing 9-5 and the 2003-2006 model 9-3 in China. The deal will give BAIC its first ever line of new cars in China; up until now, the company’s only business had been building vehicles in joint ventures for other automakers. What the deal did not give BAIC was the right to any technologies based on the current 9-3, or the upcoming 9-5 and 9-4x models, which leaves the door open for a new Saab owner to start with a fresh company.
Wang would not disclose the transaction amount for BAIC’s purchase of the Saab designs. But a Swedish daily Dagens Industri put the number at 1.4 billion crowns ($197 million), citing a source who was involved in the process.
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[...] for Saab… and the saga continues someone have to save it. i wish the Chinese would buy its. http://autoten.com/2009/12/19/baic-t…-soon-as-2011/ __________________ from freak car fan to automotive enthusiatic [...]