Breaking: GM Sells Old Saab Platform Rights to China’s Beijing Auto

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Breaking: GM Sells Old Saab Platform Rights to China’s Beijing Auto
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General Motors has reached an agreement to sell off part of its struggling Saab division to China’s Beijing Auto (BAIC). The deal would see BAIC take control of Saab’s rights assets and tooling assets of the past 9-5 and 9-3 models in order to build those vehicles in China. Saab’s future has been uncertain for… Continue Reading...

Report: GM Needs to Decide on Saab Sale This Week Says Swedish Car Czar

Report: GM Needs to Decide on Saab Sale This Week Says Swedish Car Czar
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The Swedish government is putting the pressure on General Motors, saying that it must make a decision this week on the sale of Saab if the deal is to go through by the end of the year. “They must at least have chosen one of the interested parties this week, otherwise it will be tough… Continue Reading...

Report: Beijing Auto Hardly a Savior for Saab

Report: Beijing Auto Hardly a Savior for Saab
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Yesterday’s positive news for the Saab faithful has once again been met with the grim reality of the Swedish automaker’s situation. Just 24 hours ago news emerged that China’s Beijing Auto (which supported the Koengisegg-led purchase of Saab) had secured $2.93 billion in loans from the Chinese government – which would presumably be used to… Continue Reading...

Report: Beijing Auto to Build Previous-Gen Saab 9-5 in China

Report: Beijing Auto to Build Previous-Gen Saab 9-5 in China
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Beijing Auto, the Chinese automaker that has offered to invest in the Koenigsegg-led purchase of Saab from General Motors, has confirmed that in return it will build the current (or previous) generation Saab 9-5 in China. In exchange for its involvement in supporting the deal, Beijing Auto (BAIC) will get all of Saab’s now discontinued… Continue Reading...

Report: China’s Beijing Auto Backs Koenigsegg in Purchase of Saab

Report: China’s Beijing Auto Backs Koenigsegg in Purchase of Saab
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Koenigsegg’s bid to purchase GM’s Swedish Saab brand was contingent on the company securing additional funding, either through external investment or through loans. With the Swedish government not overly excited about bailing out Saab and after rejecting attempts by Volvo to secure assistance, Keonigsegg has looked to the private sector and overseas for an interested… Continue Reading...

Before Bankruptcy Chrysler Tried to Sell to Chinese, Partner with Everyone

Before Bankruptcy Chrysler Tried to Sell to Chinese, Partner with Everyone
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Before Chrysler filed for Chapter 11 late last week the automaker explored every option, including selling the company to the Chinese and forging partnerships with any other manufacturer that expressed even a remote amount of interest. In public bankruptcy filings, made at the U.S. Bankruptcy Court in New York, Chrysler’s co-president and vice-Chairman Tom LaSorda… Continue Reading...