Saab announced today that it had closed a deal with 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,” said Jan Ã…ke Jonsson, Managing Director of Saab. “We have developed a good relationship with BAIC and look forward to working with them to integrate this Saab technology into their future vehicles.”
Saab said that the deal to sell some of its key assets to BAIC will help secure the money-losing GM brand’s future. Spokeswoman Gunilla Gustavs said Saab and GM are working hard to find a buyer, reports Automotive News.
Spyker Cars is still in negotiations to buy Saab, which GM wants to sell before the end of the year.
– By: Omar Rana