Autoblog

Nicolas Cage flogs Saab-based Senova from Beijing Auto [w/video]

Zach Bowman — Mon, 13 May 2013 17:30:00 EST

Filed under: Sedan, China, Marketing/Advertising, Videos, Saab, Celebrities

BAIC has officially pulled the covers off of its new Senova D Series sedan for China. The four-door is based on the old Saab 9-5 and boasts a turbocharged 2.0-liter four-cylinder engine. Local buyers can get their hands on the machine for around $22,745 at current conversion rates. Other engine options include a turbocharged 1.8-liter four cylinder as well as turbocharged 2.3-liter four-cylinder, and a wide range of safety equipment comes standard on every trim except the very base model. Those goodies include a tire pressure monitoring system, active head restraints, blind spot detection, driver fatigue detection and parking sensors.

The Senova nameplate serves every model based on former Saab architectures, including the Epsilon, GM2900 and GM2400 platforms as well as engine and transmission tech. In order to promote its new products, BAIC has hired Hollywood staple Nicolas Cage to serve as the company's brand ambassador. Cage stars in the Senova-heavy Town of Car Legends action-packed video short (directed by Olivier Megaton of Transporter 3 and Taken 2 fame) which you can view by scrolling below.

Continue reading Nicolas Cage flogs Saab-based Senova from Beijing Auto [w/video]

Nicolas Cage flogs Saab-based Senova from Beijing Auto [w/video] originally appeared on Autoblog on Mon, 13 May 2013 17:30:00 EST. Please see our terms for use of feeds.

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BAIC 500 and 900 Concepts look cool, offer little info

Steven J. Ewing — Sat, 20 Apr 2013 15:31:00 EST

Filed under: Concept Cars, Sedan, SUV, China, Shanghai Motor Show

Chinese company BAIC showed up to the 2013 Shanghai Motor Show with a pair of concepts, the 500 (above) and 900 (right). And while we don't have much in the way of information about these vehicles from the People's Republic, they're still pretty neat and worthy of some attention.

According to CarNewsChina.com, the 500 concept looks to be purely a design study - a sort of homage to the Beijing BJ212 SUV, and it's unclear if this thing will ever see production. Still, it looks rough and ready - there are lots of styling elements here that take cues from off-road stalwarts like the Land Rover Range Rover and Toyota FJ Cruiser, albeit in a much more, uh, Chinese package.

The 900, on the other hand, takes the shape of a svelte sedan, and Ward's Auto reports that it's even built on the Mercedes-Benz E-Class platform, using V6 power from the German automaker. Ward's states that the 900 concept previews the next-generation design DNA for BAIC's premium models, and features large, carbon fiber gullwing doors that, obviously, will not make it to production.

Have a look at both concepts in our galleries above and below, and let us know what you think of the BAIC pair in the comments.

BAIC 500 and 900 Concepts look cool, offer little info originally appeared on Autoblog on Sat, 20 Apr 2013 15:31:00 EST. Please see our terms for use of feeds.

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Beijing Autos shows T60 based on Saab 9-3

Zach Bowman — Mon, 25 Apr 2011 18:31:00 EST

Filed under: Concept Cars, Sedan, China, Saab, Shanghai Motor Show

You never know what you'll find cruising the halls of the Shanghai Motor Show. China Car Times has discovered a true oddity of automotive evolution - the Beijing Auto T60 Sedan. What's so curious about this particular four-door? As you may recall, BAIC recently got its hands on the old Saab 9-3 platform, and word on the web is that the automaker was itching to prove that it can hone aging bones into an attractive vehicle. The result is the T60. According to the Chinese automaker, the concept will reach production by 2012.

According to CCT, the T60 received a warm welcome from the auto show crowd. Though the vehicle makes use of design elements lifted from Volvo, Honda and Lexus, the overall effect is attractive enough and as far from the aging 9-3 as you can get. Head over to China Car Times to see the full monty and to check out a complete gallery of the T60 concept.

[Source: China Car Times]

Beijing Autos shows T60 based on Saab 9-3 originally appeared on Autoblog on Mon, 25 Apr 2011 18:31:00 EST. Please see our terms for use of feeds.

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Volvo denies talk of Saab takeover,
Muller looking for partner in China

Zach Bowman — Fri, 22 Apr 2011 13:59:00 EST

Filed under: Europe, Saab, Volvo, Earnings/Financials

It looks like Volvo and Saab won't be teaming up to create one Swedish carmaker to rule them all. According to Reuters, Volvo has made it clear that the company has had no talks with Saab about buying the besieged automaker and that none are scheduled to take place. The Swedish newspaper De Telegraf had previously reported that the Swedish government was urging Volvo into talks with Saab about a potential takeover. The move would mean that a government loan previously granted to Saab by the European Investment Bank would have a greater chance of being repaid.

Saab has hit (further) rough waters in recent months with multiple supplier hiccups resulting in production stoppages including instances of the automaker being unable to pay for parts. In addition, sales fell well short of 2010 forecasts, resulting in a further cash crunch. The Swedish automaker has since performed a few economic stunts to get production rolling again, including selling the company's properties and re-leasing them at a lower cost.

In related matters, Automotive News reports that Saab CEO Victor Muller is looking to broker a deal with a Chinese automaker to help finance the company, although it is understood that Beijing Automotive Industry Holding Co. is not one of those parties. BAIC, you may recall, purchased old Saab assets (the previous generation 9-3 model, among other things) back in 2009 for $200 million, and it also expressed interest in buying Saab from General Motors before Muller's Spyker stepped in and completed the purchase.

[Sources: Reuters, Automotive News]

Volvo denies talk of Saab takeover,
Muller looking for partner in China originally appeared on Autoblog on Fri, 22 Apr 2011 13:59:00 EST. Please see our terms for use of feeds.

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BAIC launches 007 SUV, James Bond shaken and stirred

Jeff Glucker — Fri, 14 Jan 2011 18:00:00 EST

Filed under: SUV, China

BAIC 007 Sport Utility Vehicle - Click above for high-res image gallery

It may have his code number on it, but we highly doubt that James Bond would be caught driving the BAIC 007 SUV. The Chinese automaker is reportedly getting ready to launch the somewhat dowdy compact sport utility vehicle, and whether by coincidence or on purpose, it bears the name of MI6's greatest agent.

According to China Car Times, this new 007 SUV starts at just over 80,000 RMB or right around $12,100 U.S., so at least Mr. Bond wouldn't have to feel too badly if he wrecked a few dozen of them in the course of making his appointed rounds. The base BAIC 007 SUV is powered by a 2.0-liter four-cylinder paired with a five-speed manual transmission, while higher trims are available with a 2.4-liter engine and a navigation system.

Gallery: BAIC 007

[Source: China Car Times]

BAIC launches 007 SUV, James Bond shaken and stirred originally appeared on Autoblog on Fri, 14 Jan 2011 18:00:00 EST. Please see our terms for use of feeds.

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Report: China's BAIC gunning to buy Pininfarina

Jeff Glucker — Sun, 02 Jan 2011 09:45:00 EST

Filed under: China, Rumormill

BAIC C71EV - Click above for high-res image gallery

Beijing Automotive Industry Corp, or BAIC, is looking to buy Italian design firm Pininfarina. The Chinese automaker is already working with Pininfarina in collaboration on its upcoming models based on older Saabs.

Since mid-2009, Pininfarina's family ownership has been looking to unload its majority stake in the company. Interest from several Chinese automakers has been piqued and BAIC is not alone in bidding for the right to purchase the design house. Brilliance and Anhui Jianghuai Automobile have put in bids, as have Indian automakers Mahindra and Bajaj Auto and Canadian parts supplier Magna International.

Regardless of BAIC submitting a winning bid, work with Pininfarina is proceeding and we expect to see the fruits of both companies' efforts at a car show sometime in the very near future.

Gallery: Beijing 2010: BAIC Saabs

[Source: Gasgoo]

Report: China's BAIC gunning to buy Pininfarina originally appeared on Autoblog on Sun, 02 Jan 2011 09:45:00 EST. Please see our terms for use of feeds.

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Report: Saab turned a profit in 2009. Wait, wha?!

Chris Shunk — Wed, 28 Jul 2010 10:31:00 EST

Filed under: Saab, Earnings/Financials

Swedish site The Local claims that Saab produced $531 million in black ink in 2009. Not possible, right? General Motors was, after all, all too ready to walk away and let the Born from Jets automaker die a pauper's death. Well, it seems as though all automaker profits come chock-full of asterisks, and the half a billion dollar profit is certainly no different. Saab was reportedly able to make with the dough by brokering deals with creditors to write off 75 percent of its debt and by selling technology, tooling, and manufacturing rights to Chinese automaker BAIC for $164 million.

Without Saab's extraordinary efforts to remain in business, the company would have lost $752 million in 2009. The Swedish automaker sold a mere 38,756 vehicles during the tumultuous year, generating revenue of just $820 million. We're thinking that there is little chance Saab will be able to pull big-time kroner out of its collective hat in 2010, so the automaker will probably have to rely on its new-for-2010 9-5 and newly leaner organization to book profits in the future.

Gallery: First Drive: 2010 Saab 9-5

Photos by Chris Paukert / Copyright (C)2010 Weblogs, Inc.

[Source: The Local]

Report: Saab turned a profit in 2009. Wait, wha?! originally appeared on Autoblog on Wed, 28 Jul 2010 10:31:00 EST. Please see our terms for use of feeds.

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Beijing 2010: BAIC (Saab) C60 and C71 and swappable batteries

Sam Abuelsamid — Fri, 23 Apr 2010 17:40:00 EST

Filed under: Saab, Beijing Motor Show

BAIC C71EV - Click above for high-res image gallery

It didn't take long for Beijing Automotive Industries Company (BAIC) to start making use of the old 9-3 and 9-5 tooling it bought from Saab last fall. After grafting on a new nose and taillights, both have been reborn as the C60 and C71.

It's not clear what's propelling the regular versions of these two reworked Saabs, however, there was a second ex-9-5 on display dubbed the C71EV. That version had a battery pack inserted into the floor and featured what BAIC was labeling as a fast battery switch system (ala Better Place).

The sign next to car claims a 90-mile range, but we think that's highly optimistic given the size of the sedan and the comparatively small battery pack. Of course, that's assuming this is actually a functional car.

Gallery: Beijing 2010: BAIC Saabs

Beijing 2010: BAIC (Saab) C60 and C71 and swappable batteries originally appeared on Autoblog on Fri, 23 Apr 2010 17:40:00 EST. Please see our terms for use of feeds.

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Saab 9-5 gets (another) ill-fitting nose job - at hands of China's BAW

Jonathon Ramsey — Tue, 20 Apr 2010 17:19:00 EST

Filed under: Concept Cars, Sedan, Saab, Beijing Motor Show, Luxury

Chinese carmaker BAIC paid $200 million late last year for parts from General Motors' parts bin for Saab: the previous generation Saab 9-5 platform and the pre-2006 Saab 9-3 platform, along with a third mystery platform, two engines and two transmissions.

The Beijing Motor Show is upon us, and the company's BAW division is apparently advertising what it has ~~Photoshopped~~ done with the 9-5 so far, called the C71 Concept. It's almost a neat looking nose, although we aren't sure it belongs on that particular body as opposed to, oh, a Mazda. The outgoing 9-5's last facelift, you'll recall, wasn't much better. Of course, we'll have to wait and see what they end up revealing on the show floor - who knows, this could be real progress.

[Source: AutoSohu.com via The Tycho]

Saab 9-5 gets (another) ill-fitting nose job - at hands of China's BAW originally appeared on Autoblog on Tue, 20 Apr 2010 17:19:00 EST. Please see our terms for use of feeds.

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Report: Chinese automaker BAIC looking to invest in Saab

Chris Shunk — Mon, 05 Apr 2010 07:55:00 EST

Filed under: GM, Rolls-Royce, Saab, Spyker

2011 Saab 9-5 - Click above for high-res image gallery

Back in the fall, General Motors was desperate to sell Saab to just about anyone with a few hundred million dollars and (hopefully) some car-making knowledge. Chinese automaker BAIC repeatedly came up as a potential bidder for the company, but in the end it appeared China's fifth largest automaker was only interested in buying up some aging pieces (see: outgoing Saab 9-3 and 9-5) of the Swedish automaker. Dutch specialty car maker Spyker eventually picked up Saab for a song, but it appears the ultra luxury car maker could have a very interested donor from the home of the Great Wall.

The Associated Press reports that BAIC CEO Wang Dazong told Swedish business daily Dagens Industri that his company has "a durable interest in deepening our partnership with Saab and we are ready to invest in the company." BAIC had even already reportedly signed a contract to begin selling Saab models through its dealer network in China.

We're not sure why BAIC wasn't able to reach a deal with GM to purchase Saab, but it appears the Chinese automaker is still very interested in deepening its ties with the Swedish automaker now that The General is out of the picture. And if Saab wants to increase sales by 120,000 and make a profit by 2012, we're thinking added exposure to the quickly expanding China market could be a very good thing.

Gallery: 2010 Saab 9-5

[Source: Associated Press]

Report: Chinese automaker BAIC looking to invest in Saab originally appeared on Autoblog on Mon, 05 Apr 2010 07:55:00 EST. Please see our terms for use of feeds.

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REPORT: BAIC paid just $200 million for Saab technology

Jeremy Korzeniewski — Thu, 24 Dec 2009 15:59:00 EST

Filed under: Convertible, Sedan, Wagon, China, Plants/Manufacturing, Technology, Hatchback, Saab, Earnings/Financials

So, what's a 2009 Saab 9-5 worth to you? A more appropriate question may be, What's the 2009 Saab 9-5 worth to you? What about the previous-generation of the Saab 9-3? Apparently, those two vehicle platforms (plus one more unknown platform) along with "two engine technologies and two transmission systems" were worth about $200 million to Chinese automaker BAIC.

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.

[Source: Reuters]

REPORT: BAIC paid just $200 million for Saab technology originally appeared on Autoblog on Thu, 24 Dec 2009 15:59:00 EST. Please see our terms for use of feeds.

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REPORT: Swedish government to meet with GM officials - could Saab still be saved?

Frank Filipponio — Sat, 19 Dec 2009 15:50:00 EST

Filed under: Performance, Government/Legal, Hirings/Firings/Layoffs, Plants/Manufacturing, GM, Saab, Earnings/Financials, Rumormill, Luxury

Saab 9-5 - Click above for high-res image gallery

Less than a day after General Motors officially announced Saab's euthanization, it looks like the storied Swedish brand might still have the faintest whisper of a pulse. Motor Trend is reporting that there are rumors swirling that the Swedish government will hold emergency meetings this weekend to try to save Saab. At least some government officials apparently feel that Saab is too important to fail... now where have we heard that before? With such a small population, the closure of Saab could have a major impact on the nation's economy, much like the failure of GM (and Chrysler, to a lesser extent) was viewed as potentially catastrophic in the States.

Some 3,400 employees will be jobless when GM completes its planned "orderly wind down" starting in January. That estimate doesn't include workers from the 1,100 Saab dealers that will also be shuttered around the globe.

Despite the failed selloff, things look like they're picking up at The General. The automaker announced yesterday that they had paid back the first $1 billion TARP money they borrowed from us the U.S. government. BAIC, Koenigsegg, Spyker and others had attempted to jump into the Saab fire-sale, but all have come out burned. Well, BAIC at least scored tooling for the old 9-3 and current 9-5. With a new-for 2010 9-5 having taken the stage at auto shows around the globe in recent months and the 9-4X in the wings, we'd love to see all of the Saab faithful get an early Christmas gift. We're definitely not holding our breath, but we'll keep you posted through the weekend should anything materialize.

Gallery: 2010 Saab 9-5

Gallery: Detroit 2008: Saab 9-4X Concept live reveal

[Source: Motor Trend]

REPORT: Swedish government to meet with GM officials - could Saab still be saved? originally appeared on Autoblog on Sat, 19 Dec 2009 15:50:00 EST. Please see our terms for use of feeds.

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REPORT: Despite selling off old bits to BAIC, Saab brand still in search of buyer

Jonny Lieberman — Mon, 14 Dec 2009 09:28:00 EST

Filed under: China, Europe, Plants/Manufacturing, GM, Saab

2010 Saab 9-5 - click above for high-res image gallery

Here's a little bit more on the salvation/debacle of Saab. First of all, it should be pointed out that after our last report about Holland's Spyker trying to buy Saab, the ~~freaks~~ lovely people over at Saabs United pointed out some ~~gaping holes in our reporting~~ an inconsistency or two with the Reuters/our version of the facts. As such, we've gone ahead and vetted the information we're using for this post with the brain trust over at Saabs United. Hey, they really like Saabs, what can we say? And now, on to the story.

Automotive News is reporting that China's Beijing Automotive Industry Holding Company (BAIC) has reached a deal with General Motors to acquire the tooling for both the Saab 9-3 and 9-5. Not so fast, says Saab's United! What they actually acquired is the tooling for the old 9-5, as well as the stuff for the pre-2006 9-3. Sort of a big difference, as obviously Saab's just getting geared up to roll out the all new 9-5 - and whomever winds up buying Saab will most likely want to offer both it and the existing 9-3 and its derivatives. Spyker's CEO Victor Muller confirms the BAIC deal is for "old equipment" and goes on to characterize the BAIC deal as, "Good news."

Then there's a bunch of no commenting. Obviously, General Motors has no comment on anything, though they do say that once a deal is reached they will say something. As far as we can tell, the pending Spyker deal is still a definite maybe. BAIC could not be reached to make a "no comment," and Saab's Eric Geer's stated, "We can't comment on anything about the sales process." Though our Saabs United source does provide us with a juicy tidbit, "[Geer's] wife is Saab's head legal counsel so he's like the canary in the coal mine. If he ever resigns suddenly..."

So there you have it - Saab's future is still totally up in the air. Though our source says that in addition to the 9-5 sedan, there's a 9-5 wagon (SportCombi) that's "pretty much ready to go" as well as the 9-4x which has, "been ready for about a year but Caddy had to get the SRX out first." Plus, a new 9-3 is being worked on. And one more thing - Saabs United is reporting that a Swedish group (not Renco) is also in talks with GM, in addition to the Spyker deal. We'll keep you posted.

Gallery: Frankfurt 2009: 2010 Saab 9-5

[Source: Automotive News - subs req. | Saabs United]

REPORT: Despite selling off old bits to BAIC, Saab brand still in search of buyer originally appeared on Autoblog on Mon, 14 Dec 2009 09:28:00 EST. Please see our terms for use of feeds.

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REPORT: BAIC only interested in parts of Saab, "White Knight" looking increasingly unlikely

Dan Roth — Tue, 08 Dec 2009 11:01:00 EST

Filed under: China, Etc., Europe, Plants/Manufacturing, GM, Saab

It seemed pretty obvious when we first heard that China's BAIC wanted Saab's tooling that it didn't want anything to do with purchasing the Swedish automaker's full monty. If BAIC wanted to be in the Saab business, clearly, it would have made overtures for more than just the retired tooling from the older versions of the 9-5 and 9-3. BAIC wants the cars and all the stuff that Saab made to make them, so as to have something else to sell in its home market. The rest of Saab, such as its Trollhattan headquarters and workforce apparently aren't of interest to BAIC, which just secured a line of credit from the Bank of China, presumably to finance this purchase.

General Motors is said to still have some suitors interested in the whole shooting match, instead of BAIC's cherry picking. Since the deal with Koenigsegg fell apart, Spyker has indicated interest in Saab, as has a private concern called Renco Group. Any deal will be carefully vetted by General Motors, and will have a short time-table for completion. If BAIC's bid for the parts of Saab carries through, the rest of the company will almost certainly head for liquidation. It's looking increasingly likely that there will be no stay of execution for Saab, no white knight riding in to save this Swedish automaker in distress. Still, it ain't over until it's over...

[Source: Reuters | Image: AFP/Getty]

REPORT: BAIC only interested in parts of Saab, "White Knight" looking increasingly unlikely originally appeared on Autoblog on Tue, 08 Dec 2009 11:01:00 EST. Please see our terms for use of feeds.

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REUTERS: China's BAIC secures $2.1B line of credit... is it for Saab?

Jonathon Ramsey — Sun, 06 Dec 2009 12:37:00 EST

Filed under: China, GM, Saab, Earnings/Financials, Koenigsegg

Beijing Automotive Industry Corporation (BAIC) could still be in the game for Saab, having secured a $2.93 billion line of credit from the Bank of China. On the other hand, BAIC could just be gearing up for its own home-grown expansion plans, with an eye on ramping up production and putting financial and technological legs underneath its partnerships with Mercedes and Hyundai.

Or... it could be doing both: trying to buy Saab and as well as remodel its business. The deal for Saab between GM and Koenigsegg was for about $1 billion: the European Investment Bank approved a loan for $615 million, and BAIC provided about $400 million by buying a minority stake in the Koenigsegg Group. If BAIC did its own deal with GM for that same amount -- although we have a feeling they could get a Christmas discount -- that would leave nearly $2 billion for BAIC to take care of Saab and invest in its own operations.

This is, of course, pure speculation -- BAIC could have something else in mind entirely. All we know right now is that they've got a lotta yuan just sitting around waiting to be spent, and aborted plans to build the new 9-5 in China. This Saab story isn't finished yet...

[Source: Reuters]

REUTERS: China's BAIC secures $2.1B line of credit... is it for Saab? originally appeared on Autoblog on Sun, 06 Dec 2009 12:37:00 EST. Please see our terms for use of feeds.

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REPORT: BAIC/Koenigsegg may produce Saab 9-5 in China

Michael Harley — Sat, 07 Nov 2009 14:26:00 EST

Filed under: China, Government/Legal, Plants/Manufacturing, Saab

Beijing Automotive Industry Holding Co. (BAIC), announced as a minority partner in Koenigsegg's deal to purchase Saab from General Motors two months ago, plans to produce the Saab 9-5 on Chinese soil next year. The involvement of BAIC in the Saab transaction helps Koenigsegg close the deal and gives the Chinese company leverage to re-badge the previous-generation Saab 9-5 as its own or to simply expand the brand's existing reach within the country.

In September, Saab CEO Jan-Ake Jonsson told reporters he wanted to double the number of Chinese Saab dealers from 15 to 30, and that he had an interest in local Chinese production. "Beijing Auto is an opportunity for us to establish ourselves in the Chinese market with their experience," the CEO said. Under current plans, Saab imports all cars to China, where they're sold under the Shanghai General Motors network. Sales have been slow, but promoting the brand under the watchful eye of BAIC may help the brand gain traction in China's huge automotive market.

[Source: Gasgoo]

REPORT: BAIC/Koenigsegg may produce Saab 9-5 in China originally appeared on Autoblog on Sat, 07 Nov 2009 14:26:00 EST. Please see our terms for use of feeds.

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REPORT: Major obstacle cleared as Swedish government to guarantee $615M EIB loan for Saab

Jonathon Ramsey — Tue, 06 Oct 2009 10:58:00 EST

Filed under: Europe, Government/Legal, Saab

2010 Saab 9-5 - Click above for high-res image gallery

A major hurdle in Saab's transfer to the homegrown hands of Sweden's Koenigsegg has been surmounted: the Swedish government has agreed to guarantee a 4.3 billion kroner ($615M U.S.) loan from the European Investment Bank to the Koenigsegg consortium. That represents the final funding the maker of the CCX needs in order to compete the financing of the deal.

The next hurdle is for the European Investment Bank to consent to give Koenigsegg the money. A Swedish government representative said he hoped the EIB would decide before the end of the month. If that happens and things goes favorably, Koenigsegg may still get the deal done on its original timeline, the end of the year.

Gallery: 2010 Saab 9-5

[Source: Reuters]

REPORT: Major obstacle cleared as Swedish government to guarantee $615M EIB loan for Saab originally appeared on Autoblog on Tue, 06 Oct 2009 10:58:00 EST. Please see our terms for use of feeds.

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REPORT: Outgoing Saab 9-5 to live on... as Chinese BAIC

Jeremy Korzeniewski — Fri, 02 Oct 2009 09:27:00 EST

Filed under: Sedan, Wagon, China, Plants/Manufacturing, Saab

If Billy Joel is right that only the good die young, the outgoing Saab 9-5 has been very, very bad. In automotive terms, the 9-5 is positively ancient, having first seen the light of day in 1997 and getting very little in the way of meaningful changes since that time.

If, though, you happen to like cars that feature a design that's... shall we say, "proven," we have some good news to report. According to Autocar, the old 9-5 will get a new lease on life from China's Beijing Automotive Industry Corporation (BAIC). It's not clear what changes (if any) will be made to the car in its new incarnation, or if BAIC will also purchase the rights to Saab's turbocharged four-cylinder engines.

Last month, BAIC made a $400 million investment into the Swedish automaker, becoming a minority shareholder in Koenigsegg, Saab's new parent company. As for the 9-5 in America, well... let's just say we're happy to be getting the completely reengineered 2010 model.

[Source: Autocar]

REPORT: Outgoing Saab 9-5 to live on... as Chinese BAIC originally appeared on Autoblog on Fri, 02 Oct 2009 09:27:00 EST. Please see our terms for use of feeds.

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REPORT: China's Beijing Automotive takes minority stake in Saab

Jonathon Ramsey — Wed, 09 Sep 2009 13:28:00 EST

Filed under: China, Europe, Saab

2010 Saab 9-5 - Click above for a high-res image gallery

It had been reported that SAIC had quietly taken a stake in Saab in conjunction with the Koenigsegg Group. However, it's been confirmed that Beijing Automotive -- which also recently made a play for Opel -- has grabbed a share of the Trollhätten pie.

BAIC provided the $400 million difference in cost that Koenigsegg needed to complete the sale and the final financial hurdle is for the Swedish government to guarantee a $600 million loan from the European Investment Bank to Koenigsegg.

Those kinds of numbers mean that Saab will be more expensive than Aston Martin, which might sound a little odd -- especially for a company that sold just 93,000 cars last year. But the tie to BAIC -- and Russia, Augie Fabela, a cell-phone company magnate -- could open up two enormous markets that will give Saab access to market numbers that could justify its purchase price and existence. Full press release from Koenigsegg after the jump.

Gallery: 2010 Saab 9-5

[Source: Koenigsegg]

Continue reading REPORT: China's Beijing Automotive takes minority stake in Saab

REPORT: China's Beijing Automotive takes minority stake in Saab originally appeared on Autoblog on Wed, 09 Sep 2009 13:28:00 EST. Please see our terms for use of feeds.

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German economics minister reportedly says no to Opel buy-back option for GM

Sam Abuelsamid — Mon, 20 Jul 2009 09:29:00 EST

Filed under: Government/Legal, GM, Opel

One of the many clauses that General Motors is reportedly trying negotiate into any deal involving majority control of Opel is the option to eventually buy back the stake it is selling.

As the theory goes, GM isn't selling Opel because it feels like it doesn't add value - Opel in fact offers huge value to GM and has had lead responsibility for developing the global mid-sized, compact and small car platforms being used by the automaker. Instead, Opel is on the block because the home office needs the cash. Thus, if GM is able to be flush with cash once again, it would like to reserve the right to regain to full control.

According to Reuters, Karl-Theodor zu Guttenberg, Germany's economics minister is having none of that business. In fact, he has apparently told Frankfurter Allgemeine Sonntagszeitung that no such clause would be allowed if Opel is to receive any German government aid. The German government is also wary of any financial groups like Belgium's RHJ International taking a stake - instead, they reportedly prefer an owner with a long term interest in the industry like Magna International.

[Source: Reuters | Image: Ralph Orlowski/Getty]

German economics minister reportedly says no to Opel buy-back option for GM originally appeared on Autoblog on Mon, 20 Jul 2009 09:29:00 EST. Please see our terms for use of feeds.

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Autoblog

Nicolas Cage flogs Saab-based Senova from Beijing Auto [w/video]

BAIC 500 and 900 Concepts look cool, offer little info

Beijing Autos shows T60 based on Saab 9-3

Volvo denies talk of Saab takeover, Muller looking for partner in China

BAIC launches 007 SUV, James Bond shaken and stirred

Report: China's BAIC gunning to buy Pininfarina

Report: Saab turned a profit in 2009. Wait, wha?!

Beijing 2010: BAIC (Saab) C60 and C71 and swappable batteries

Saab 9-5 gets (another) ill-fitting nose job - at hands of China's BAW

Report: Chinese automaker BAIC looking to invest in Saab

REPORT: BAIC paid just $200 million for Saab technology

REPORT: Swedish government to meet with GM officials - could Saab still be saved?

REPORT: Despite selling off old bits to BAIC, Saab brand still in search of buyer

REPORT: BAIC only interested in parts of Saab, "White Knight" looking increasingly unlikely

REUTERS: China's BAIC secures $2.1B line of credit... is it for Saab?

REPORT: BAIC/Koenigsegg may produce Saab 9-5 in China

REPORT: Major obstacle cleared as Swedish government to guarantee $615M EIB loan for Saab

REPORT: Outgoing Saab 9-5 to live on... as Chinese BAIC

REPORT: China's Beijing Automotive takes minority stake in Saab

German economics minister reportedly says no to Opel buy-back option for GM

Volvo denies talk of Saab takeover,
Muller looking for partner in China