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The New Saab?
China’s Beijing Auto to help Koenigsegg buy Saab
Posted Thursday, Sep 10, 2009, 5:40 pm in Employee News
China’s Beijing Automotive Industry Holdings Co. has signed a deal to take a stake in Koenigsegg Group AB, Automotive News reported. The agreement is supposed to help the Swedish firm finance its bid to takeover Saab Automobile from General Motors Co., the trade paper said.
“This is an important step on the road toward a new Saab. We have a well prepared business plan, an important partnership and we are ready to proceed without state financing,” Koenigsegg CEO Christian von Koenigsegg said in a statement.
No financial terms of the memorandum of understanding between Koenigsegg and BAIC were given, the publication said. The two companies plan to work together on expanding Saab’s and BAIC’s products in China and other international markets, according to a release, the story said. (Automotive News)
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Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
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