Dec 16th, 2009 by Ross Edwards
GM is negotiating the sale of Saab’s old technology to a Chinese carmaker. Beijing Automotive Industry Holdings is looking to buy the technology behind the current Saab 9-3 and 9-5. The rest of the Saab brand is still for sale, but GM may simply shut it down if a buyer isn’t found soon, according to the Associated Press.
Beijing Automotive Industry Holdings was one of the companies in the group led by Swedish supercar maker Koenigsegg that attempted to buy Saaab earlier this year. After that deal fell through, Beijing Automotive continued talks with GM and is now apparently close to buying the rights to the 9-3 and 9-5.
Saab has two cars ready to be launched in the near future, the new 9-5 and 9-4x. Those new cars, along with the company’s reputation as the quirky, not-so-pompous luxury brand, should make it an easy sale. The only problem is that Saab is expected to lose millions of dollars a year over the next few years, so any buyer would need to be able to float the company until it returns to profitability.
GM says that there are potential buyers, but if a deal isn’t reached by the end of December, the Saab brand will be closed. Saab closing would mean about 4,500 jobs lost.
The Saab 9-3 could soon make its way to China, owned by Beijing Automotive Industry Holdings.
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