GM has announced they have closed a deal to sell outdated Saab technology to China's Beijing Automotive Industry Holdings Co. Ltd (BAIC).
While details are scarce, GM will transfer tooling (for the current 9-3/9-5) and powertrain technology to BAIC. Furthermore, Saab will provide assistance to help integrate these technologies into upcoming BAIC vehicles.
According to Saab's Managing Director, Jan Åke Jonsson, "This arrangement is excellent for both parties, now and for the future. We have developed a good relationship with BAIC and look forward to working with them to integrate this Saab technology into their future vehicles."
The move will give Saab a much-needed cash infusion, which will likely be used to finance operations until the brand is sold or phased out. As you may recall, Koenigsegg backed out of plans to buy Saab, in late November, putting the company's future in jeopardy. Since then, several bidders (Spyker, the Renco Group, and Merbanco Inc) have expressed interest in the brand.
