Beijing Auto
China’s Beijing Auto Wants to Buy a US Automaker
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Chinese automaker Beijing Automotive Group is planning to fast track its global expansion and is looking to buy a US automaker in order to do so.
Chinese Automaker Eyes European Brands for Takeover
Beijing Automotive is planning to buy its way into the European automotive market, as the state-owned automaker targets three European manufacturers as potential takeover targets.
New Saab Cars Set to Debut at Beijing Auto Show
Back in 2009, Beijing Auto was able to purchase the rights to several Saab platforms, engines and transmissions. Now that buyout will result in the C70, set to debut at the upcoming Beijing Motor Show. Alright, so it’s not actually a new Saab per se, but the C70 is one of three Saab-based models that…
Breaking: GM Sells Old Saab Platform Rights to China’s Beijing Auto
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…
Report: GM Needs to Decide on Saab Sale This Week Says Swedish Car Czar
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…
Report: Beijing Auto Hardly a Savior for Saab
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…
Report: Beijing Auto to Build Previous-Gen Saab 9-5 in China
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…
Report: Sweden Grants Saab $610 Million Loan
Saab has secured a $610 million loan from the European Investment Bank after the Swedish government said it would stand behind the loan. This may just be the last step in finalizing the sale of Saab to a group of investors headed by Swedish supercar maker Koenigsegg. The sale of Saab by General Motors to…
Report: China’s Beijing Auto Backs Koenigsegg in Purchase of Saab
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…
