BAIC puts tab for Saab at $200 million, will invest $4.8 billion into R&D

After buying design and technology from GM’s Saab, Chinese automaker Beijing Automotive Industry Holding Corp. plans to launch an aggressive marketing campaign at home and abroad in order to develop their brand. After paying $200 million for three vehicle platforms and two engine technologies from Saab, BAIC will sink another $4.8 billion into R&D over three years.

Integrating Saab technologies with its own, the company aims to sell 100,000 self-developed passenger vehicles in 2011, according to company chair Xu Heyi.

The Chinese market having recently emerged as the world’s largest for autos, is rife with manufacturers scrounging to get their hands on superior, foreign technologies.

– By: Stephen Calogera

Source: Automotive News (Subscription Required)