GM sells Saab assets to Beijing Auto

The deal will see the Beijing Auto Industry Corp, China’s fifth largest car maker, get the intellectual rights to the current Saab 9-3 as well as the outgoing Saab 9-5, as well as several tooling and powertrain technology.

Saab will also provide assistance to Beijing Auto to help integrate these technologies into producing the cars for the Chinese market, as well as future BAIC vehicles. The rights to the new Saab 9-5, which was recently launched, remains with GM however.

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."