Beijing Automotive Industry Holdings Co Ltd (BAIC) may bid for GM’s Saab unit after missing out on Opel, according to Chinese media reports.
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The South China Morning Post cited an unnamed market source as saying that BAIC is considering making a bid.
The Financial Times reported yesterday that three groups have entered bids for General Motors’ insolvent Saab brand and one will be chosen by the end of this week.
According to sources close to the process, the three bidders are Swedish speciality sportscar maker Koenigsegg Automotive, Renco, a private holding that bought and turned round the maker of Humvee military vehicles, and a group of investors from the US state of Wyoming.
The FT said all three had been invited for talks this week. GM, which filed for bankruptcy protection in the US last week, would contribute assets and cash worth US$500m to finance Saab’s spin-off.
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