Home News GM confirms sale of parts of the daughter Saab BAIC

GM confirms sale of parts of the daughter Saab BAIC


U.S. car manufacturer General Motors (GM) has completed the sale of parts of its Swedish subsidiary Saab to the Chinese automaker Beijing Automotive Industry Holding (BAIC) confirmed. These include specifications that the intellectual property in two limousines and Equipment for the production of the vehicles, the company announced on Monday. Previously, the Wall Street Journal has already made circles sales experience.

The State BAIC has intellectual property rights for some Saab models of type 9-3, the current 9 to 5-series and propulsion technologies and production equipment purchased. The production line for the current midrange model 9-5 will move to China shared with Saab. There they should be used to build vehicles BAIC will. In addition, Saab will help BAIC, technologies into their To integrate vehicles.
The transaction is only a part of Chinese efforts to a small number of globally competitive Vehicle build. This is done inter alia through the purchase of ailing automakers abroad, and their technologies.

The sale of Saab is a centerpiece of the restructuring of GM, but the U.S. car manufacturer had difficulty in the transaction seal. Last month, the Scandinavian had Sports car manufacturer Koenigsegg called off its planned takeover of Saab. BAIC was only a few times previously entered at Koenigsegg, to when To help finance the acquisition. In return, the Chinese wanted Automobile manufacturers in order to access technology and the know-how of the Swedish Brand secure.