General Motors doesn’t really know what to do with its struggling Swedish brand Saab, after the negotiations it made with Koenigsegg suddenly failed. Although it has revealed that new parties are interested in the company, with Dutch supercar manufacturer Spyker in the pole position, the US corporation has now revealed that it has sold the rights to the technology used on the Saab 9-3 and 9-5 to China’s Beijing Automotive Industry Holdings Co. Ltd, or BAIC.
Part of deal consists of BAIC taking control of the technology the Swedish company used on its older models, including the drivetrains, and Saab will also provide consulting to the Chinese company on how to implement them in the new models it is preparing.
“This arrangement is excellent for both parties, now and for the future,” said Saab’s Managing Director, Jan Åke Jonsson. “We have developed a good relationship with BAIC and look forward to working with them to integrate this Saab technology into their future vehicles.”
As you may remember, BAIC also partnered with Koenigsegg when the negotiations with GM were at its peak, and was also rumored to be one of the interested parties after the Swedish supercarmaker backed down from buying Saab.
Hopefully this deal will offer Saab some more money to operate with before a new owner is found.
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