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official Saab statement
"Saab Automobile and Beijing Automotive reach milestone in technology cooperation
• Saab closed on a sale of certain Saab 9-3 and the current 9-5 and Powertrain technology to BAIC
• The current 9-5 that runs out soon will be replaced by the next generation 9-5 of which the first new models came of the production line in Trollhättan a few weeks ago
• Current 9-5 tooling will move to China as soon as the last one has been produced in few weeks from now where it will be used to make BAIC vehicles
• Saab will assist BAIC in integrating this technology into BAIC vehicles, which will be sold under their own label
• Financial details of this transaction are confidential but the arrangement is excellent for both parties
• The deal does not include any rights to the Saab brand name nor model name
• Like today the Saab 9-3 (including the Convertible) and new 9-5 ranges will continue to be built in Trollhättan, Sweden.
• In a separate process Saab and all involved parties are focused on securing a new owner for Saab by the end of the year
December 14 2009, Trollhättan.
Saab Automobile AB announced today that it had closed on the sale to Beijing Automotive Industry Holdings Co. Ltd (BAIC) of certain Saab 9-3, current 9-5 and powertrain technology and tooling. Saab will assist BAIC to integrate this technology into future BAIC vehicles.
Jan Åke Jonsson, Managing Director of Saab Automobile said: “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.”
"Saab Automobile and Beijing Automotive reach milestone in technology cooperation
• Saab closed on a sale of certain Saab 9-3 and the current 9-5 and Powertrain technology to BAIC
• The current 9-5 that runs out soon will be replaced by the next generation 9-5 of which the first new models came of the production line in Trollhättan a few weeks ago
• Current 9-5 tooling will move to China as soon as the last one has been produced in few weeks from now where it will be used to make BAIC vehicles
• Saab will assist BAIC in integrating this technology into BAIC vehicles, which will be sold under their own label
• Financial details of this transaction are confidential but the arrangement is excellent for both parties
• The deal does not include any rights to the Saab brand name nor model name
• Like today the Saab 9-3 (including the Convertible) and new 9-5 ranges will continue to be built in Trollhättan, Sweden.
• In a separate process Saab and all involved parties are focused on securing a new owner for Saab by the end of the year
December 14 2009, Trollhättan.
Saab Automobile AB announced today that it had closed on the sale to Beijing Automotive Industry Holdings Co. Ltd (BAIC) of certain Saab 9-3, current 9-5 and powertrain technology and tooling. Saab will assist BAIC to integrate this technology into future BAIC vehicles.
Jan Åke Jonsson, Managing Director of Saab Automobile said: “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.”