Saab is now closer to start the production in China

Posted on Thursday, 24 September 2009 , 06:09:16 byEmil

Filed under chinabaicproductionsaabgmkoenigseggbeijingfrankfurtSaabGMKoenigseggFrankfurt Motor Show

Saab is now closer to start the production in China

A potential beginning of Saab cars production in the Chinese territory. Beijing Automotive, alias for BAIC, apparently might start, in the country, local production of cars from, thanks mainly to the Koenigsegg Group deal.

Jan-Ake Jonsson - Saab CEO said at the Auto Show in Frankfurt according to 'Beijing Automotive is an opportunity for us to establish ourselves in the Chinese market with their experience'. Saab's CEO unveiled also that the Swedish builder with the intention of doubling the Chinese dealerships number from 15 to 30.

BAIC became a Koenigsegg Group minority shareholder who will of course continue owning 100 % of SAAB.

CEO of Koenigsegg Group AB - Christian von Koenigsegg said 'This is an important step on the road to a new SAAB Automobile. We have a solid business plan, an important partnership and we are now in a position to go ahead without any governmental financing'.

Koenigsegg is continuing the take over of SAAB, the Swedish builder does not need other European Investment Bank funds.

Joran Hagglund - State Secretary added 'Koenigsegg no longer needs any extra loan from the Swedish state but can handle the financing with the help of GM and new investors. They have presented us with a plan ... we will look at it from our side and decide how credible it is'.