TROLLHATTAN, Sweden — General Motors confirmed Monday that Saab Automobile, its struggling Swedish subsidiary, has agreed to sell the tooling for the current Saab 9-5 to Beijing Auto (BAIC). Saab also will sell to BAIC some powertrain technology and tooling, as well as unspecified rights to the 9-3.
A brief, carefully worded GM statement said BAIC will purchase "certain Saab 9-3, current 9-5 and powertrain technology and tooling."
The GM statement quoted Saab Managing Director Jan Ån;ke Jonsson as saying, "We have developed a good relationship with BAIC and look forward to working with them to integrate this Saab technology into their future vehicles."
BAIC earlier had partnered with Koenigsegg in an unsuccessful bid to acquire all the assets of Saab.
GM continues to search for a bidder to purchase the remainder of Saab, including the rights to the redesigned 2010 Saab 9-5 that was publicly unveiled in September at the 2009 Frankfurt Auto Show and had been slated to go into production next spring.
Inside Line says: This deal will help Beijing Auto launch a long-planned series of premium automobiles — a far cry from its roots as a maker of utilitarian Jeep-like vehicles. — Paul Lienert, Correspondent
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firstclass says:
04:41 PM, 12/14/2009
Is BAIC going to repackage the 9-5 to become their own car brand or are they just going to use the car for parts. I doubt the BAIC want to continue to use the Saab name and identity, but they could buy the remainder of Saab and the factories saving jobs and the Saab brand. This would save them some money in that they wouldn't have to restyle the cars and could go ahead with the production of the 9-3.