REPORT: BAIC paid just $200 million for Saab technology
It would seem that BAIC got quite a lot for its relatively small sum of money, as both the older 9-3 and 9-5 are still perfectly serviceable automobiles that should allow the Chinese automaker to vastly increase the quality of its own offerings in short order. BAIC Chairman Xu Heyi reportedly said that "the purchase of Saab's intellectual property can help cut short the development time for Beijing Auto's own-brand passenger vehicles by 4 to 5 years."
Xu went on to describe an ambitious plan to sell 100,000 BAIC-branded cars (no doubt relying heavily on Saab technology) in 2011. To turn that goal into reality, BAIC says it will have a production facility ready by 2011 with enough capacity to build 150,000 vehicles per year.
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