Beijing Auto Interested in Saab Assets

It is already official that the deal for buying Saab went sower, leaving General Motors with no other alternative but to shut down the brand, especially when Sweden ruled out a state bailout and said on various occasions that Saab’s only chance for survival is a foreign owner.

According to autonews.com, China's Beijing Automotive Industry Holding Corp, an important part of the group which abandoned its bid to buy General Motors’ Saab, could still be interested in some Saab assets on its own. Analysts said that it's not likely that the Chinese company will try to bid for the whole company.

“Becoming more international has always been our strategic focus," said BAIC. “With regard to Koenigsegg's withdrawal, we will carefully evaluate this project anew and make appropriate arrangements," it added.

BAIC is interested in acquiring foreign car brands and intellectual property, but buying an automaker in Saab’s situation is a bit out of their league, experts say. "The pullout of Koenigsegg may not be a chance for BAIC as it seems to be," said Zhang Xin, an industry analyst with Guotai Junan Securities. "It's true that BAIC does not have its own car brand and it's desperate to get the technology, but it might not get it."

According to Zhang Xin, an industry analyst with Guotai Junan Securities, BAIC will try to buy some of Saab’s older product designs. “I think BAIC might give it a try if it has a chance to get the old Saab 9-5 and 9-3 platforms," Sa said. "Even though the technologies are a bit outdated, they're better than nothing for BAIC."