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April 1, 2010

SWEDEN: BAIC ‘wants to invest in Saab’ – report

BAIC wants to invest in Saab BAIC's chief said in a newspaper interview published today.

BAIC wants to invest in Saab BAIC’s chief said in a newspaper interview published today.

“We have a durable interest in deepening our partnership with Saab and we are ready to invest in the company,” BAIC chief executive Wang Dazong told Swedish business daily Dagens Industri.

BAIC was one of the bidders for Saab when GM said it wanted to sell the brand last year. Supercar maker Spyker eventually purchased the brand.

In December BAIC paid US$200m to purchase technology from GM Saab unit as it speeds up development of its own vehicles.

BAIC said it will develop four new models and three turbo-engines using Saab technology.

The Chinese company agreed to buy vehicle platforms from Saab to help develop its own models and to reduce its reliance on partners Hyundai and Daimler.

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