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 party.
Koenigsegg Group AB has now announced it has found just that in Chinese automaker Beijing Automotive Industry Holdings.
The deal has yet to be finalized and no monetary amount has been given, but Koenigsegg did say that Beijing Auto will be a minority non-controlling shareholder.
In return Saab will not only get much-needed funding but also access to the massive Chinese marketplace.
“This is an important step on the road to a new SAAB Automobile. We have a solid business plan, an important partnership and we are now in a position to go ahead without any governmental financing,” said Christian von Koenigsegg, CEO of Koenigsegg Group AB.
Official release after the jump:
![Meredes CLS Shooting Brake: Lookin’ Fine in Winter Time [Spy Photos]](http://www.autoguide.com/auto-news/wp-content/uploads//2012/02/Mercedes-CLS-Shooting-Brake-thumb.jpg "Meredes CLS Shooting Brake: Lookin’ Fine in Winter Time [Spy Photos]")
