Beijing Auto and Koenigsegg are still aiming to complete the purchase of Saab from GM before the end of the year.

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The sale has been held up by a delay in the Swedish government giving a guarantee on an EIB loan to Saab of EUR400m.


Work on concluding the Saab deal was proceeding steadily and “in an orderly manner”, Wang Dazong, BAIC’s general manager, Reuters reported.


The EIB said the Saab loan would be used for research and development activities for the improvement of fuel efficiency and safety, including new tooling for the production of cleaner and safer cars, subject to the EC’s approval of the Swedish state guarantee.


BAIC has taken a 10% stake in Koenigsegg to help push the partnership in the deal along.


See also: FEATURE: Saab savours a future without GM

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