Chinese state automaker BAIC Group, which has bought some superseded Saab platforms, has no interest in participating in any rescue plan for Saab, its chairman said.

Xu Heyi was talking to Reuters on the sidelines of an industry forum in the southwestern Chinese city of Chengdu.

Xu also said the company was in talks to buy some overseas auto parts assets, but he did not give any details.

BAIC, previously called Beijing Automotive Industry Holding, is the Chinese partner of Daimler and Hyundai Motor.

Geely, the owner of Volvo cars, denied a Swedish media report that it planned to seek ownership of struggling Saab which is in desperate need of money under a court-backed restructuring under creditor protection.

The company applied to the courts for creditor protection in August when it was unable to pay workers.

Market rumors have circulated that BAIC might been interested in bailing out the struggling Swedish car maker due to its earlier purchase of the platforms.

Administrator could pull Saab plug after loan no-show

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