General Motors has sold key Saab assets to Beijing Automotive Industry Holding Co. (BAIC). The Chinese company has bought the rights to the current 9-3 and the old 9-5, as well as Saab's tooling and powertrain technology. The forthcoming new 9-5 is not a part of the deal.
Saab's managing director Jan-Ake Jonsson said, “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.”
Dutch supercar manufacturer Spyker is still negotiating to buy Saab. GM wants to sell the brand off completely before the end of the year.