Confirmed: Chinese BAIC Takes Over Saab Assets

Another important milestone in Saab's fight for life became reality a few days ago when the Swedish manufacturer sold some assets to Beijing Automotive. Specifically, the company closed on the sale to BAIC of certain Saab 9-3, 9-5 and powertrain technology and tooling, with the Swedish company to assist its Chinese partner into integrating the acquired technology in future BAIC models.

“This arrangement is excellent for both parties, now and for the future. We have developed a good relationship with BAIC and look forward to working with them to integrate this Saab technology into their future vehicles," Jan Åke Jonsson, Managing Director of Saab Automobile, said.

Obviously, such an announcement leads, once again, to a number of rumors concerning Saab's future. After Koenigsegg decided to walk away from the Saab deal, GM's board met to make a decision on the Swedish brand. The result? GM is waiting until end-December for new bids and, in case no deal is reached by that time, it will scrap the business entirely.

Sources familiar with the matter confirmed that General Motors is now involved in discussions with several interested bidders. Spyker is one of the companies that confirmed its interest but, given the recent developments of the case, the Dutch manufacturer might decide to stop talks as well.

If we are to trust the rumors, Spyker is only looking into ways to take control of 100 percent of Saab, so a potential asset sale to BAIC might interfere with such a plan. However, Spyker officials are yet to release a statement but more details are very likely to come soon as we get closer to the December 31 deadline.