Saab on the BAIC agreement for technology acquisition

From the Saab Newsroom:

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Saab Automobile and Beijing Automotive reach milestone in technology cooperation

  • Saab closed on a sale of certain Saab 9-3, current 9-5 and Powertrain technology to BAIC
  • Current 9-5 tooling will move to China where it will be used to make BAIC vehicles
  • Saab will assist BAIC in integrating this technology into BAIC vehicles

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.”

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Note: it says certain 9-3 powertrain, tech and tooling. Some news services will miss this and say it’s the 9-3 in entirety. But this is Saab’s own news release.

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From BAIC, via Reuters:

“The deal is an important milestone in BAIC’s cooperation with Saab. It has also laid a fairly good foundation for the two sides to further explore win-win cooperation,” BAIC said in a statement.

BAIC will get support from Saab as it uses the acquired technologies to manufacture its own-brand models, it added.

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