REPORT: BAIC only interested in parts of Saab, "White Knight" looking increasingly unlikely

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Filed under: China, Etc., Europe, Plants/Manufacturing, GM, Saab

It seemed pretty obvious when we first heard that China's BAIC wanted Saab's tooling that it didn't want anything to do with purchasing the Swedish automaker's full monty. If BAIC wanted to be in the Saab business, clearly, it would have made overtures for more than just the retired tooling from the older versions of the 9-5 and 9-3. BAIC wants the cars and all the stuff that Saab made to make them, so as to have something else to sell in its home market. The rest of Saab, such as its Trollhattan headquarters and workforce apparently aren't of interest to BAIC, which just secured a line of credit from the Bank of China, presumably to finance this purchase.



General Motors is said to still have some suitors interested in the whole shooting match, instead of BAIC's cherry picking. Since the deal with Koenigsegg fell apart, Spyker has indicated interest in Saab, as has a private concern called Renco Group. Any deal will be carefully vetted by General Motors, and will have a short time-table for completion. If BAIC's bid for the parts of Saab carries through, the rest of the company will almost certainly head for liquidation. It's looking increasingly likely that there will be no stay of execution for Saab, no white knight riding in to save this Swedish automaker in distress. Still, it ain't over until it's over...



[Source: Reuters | Image: AFP/Getty]

REPORT: BAIC only interested in parts of Saab, "White Knight" looking increasingly unlikely originally appeared on Autoblog on Tue, 08 Dec 2009 11:01:00 EST. Please see our terms for use of feeds.

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