About Beijing Automotive Industry Holding Co (BAIC)

BAIC are the new stakeholders in the Koenigsegg Group and will therefore be part owners of Saab in the future.
Here’s some background information about them:
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The website URL is not exactly easy to memorise: http://www.bqkgdjw.com/
They are holding company owned by the Beijing Automotive Import and Export Corporation.
Government owned.
BAIC have joint venture operations building Mercedes Benzes, Chryslers and Jeeps, as well as Hyundais. They also build and market their own range of cars.
BAIC were one of the original bidders for Saab, but dropped out late in the process to (unsuccessfully) place a bid for Opel. It’s my understanding that they were one of the final three bidders for Saab at that point, and their place at the table was (re)assumed by Merbanco.
BAIC’s CEO is a guy named Wang Dazong, who came to the company a few years ago from GM’s joint venture partner, Shanghai Automotive (SAIC). Dazong earned a PhD from Cornell University in 1985 and then joined General Motors, where he worked his way up the foodchain, finally being appointed VP Development of SAIC in 2006.
The Chinese market is still growing at an exponential rate, although the government has urged many companies to stem their planning and make sure it’s sustainable. Consequently, BAIC has trimmed its growth targets for the next three years, aiming for production of 1.5 million units in 2010.
BAIC were recently talked about in terms of expanding into Europe, looking at factory sites in Lithuania. It’s unknown at this point whether they’re still considering such things, and even if they are it may well be totally irrelevant anyway.

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