Beijing Automotive Industry Holding said it paid US$200m to purchase technology from General Motors’ Saab unit as the Chinese automaker speeds up development of its own vehicles.
Go deeper with GlobalData
BAIC said in a statement today that it will develop four new models and three turbo-engines using Saab technology.
The Chinese company agreed to buy vehicle platforms from Saab earlier this month to help develop its own models and to reduce its reliance on partners Hyundai and Daimler.
The future of Saab remains uncertain. GM said last Friday that it will wind down the loss-making Swedish unit after talks collapsed on a sale to Spyker Cars NV. However negotiations resumed Monday after amid rumours in the media that Spyker had found a billionaire backer.
BAIC agreed to buy Saab assets related to three platforms, including the existing 9-3 and 9-5 models. It is also buying turbo-engine and gearbox technology.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe Chinese company had been part of an earlier failed bid to buy Saab with Swedish specialist sportscar maker Koenigsegg Group. Beijing Auto also failed in an attempt to buy GM’s Opel unit in July.
