Wall Street Journal:

“BAIC to Buy Parts of Saab”

Chinese automaker BAIC (Beijing Automotive Industry Holding Co.) has reached a tentative deal to acquire certain assets of Swedish car brand Saab unit, including intellectual property for two sedans and equipment to produce those cars, the Wall Street Journal reports referring to a person with direct knowledge of the agreement.

According to the report, the deal was sealed over the weekend in Sweden. This will enable BAIC, China's fifth largest state-owned auto maker, to integrate the Saab technology into its own vehicles. The agreement covers some models of Saab's 9-3 compact sedan series, the current 9-5 midsize car, motors and gearbox technology. Current Saab owners, the US auto giant General Motors, is expected to liquidate the Trollhättan-based main production plant by cutting up Saab into several minor companies.