Saab has entered a precarious situation since the collapse of the deal to sell the brand from General Motors to Swedish sports car maker Koenigsegg. Giving a deadline of only one month to decide what to do with the brand, GM has sought ways to jettison the brand from its increasingly smaller umbrella of auto monikers.
The latest development comes from China’s Beijing Automotive Industry Holdings Co. Ltd, also know as BAIC. The company has officially purchased tooling and technology for the existing Saab 9-3 and the 9-5. In addition, Saab will help the Chinese automaker produce additional BAIC vehicles.
Saab remains optimistic about the deal, and about the future of the brand. Selling tooling and technology will ultimately provide much needed cash to keep the brand alive. Meanwhile, Saab and GM will continue to work to find a buyer.
Thus far, sports car maker Spyker reportedly remains at the forefront of negotiates to purchase Saab. GM has made it clear that it wants to find a buyer by the end of the month, which puts pressure on the Swedish automaker’s future.
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