SAIC May Invest in Saab
By Brendan Moore
Reports out of both Sweden and China indicate that SAIC is considering an investment in the next iteration of Saab.
Sources say the Chinese auto company would pick up the current $420 million USD “gap” that exists in Koenigsegg’s plan to purchase Saab from General Motors. SAIC would consider the investment a passive one as opposed to a partnership that produces cooperation among the auto production units of the two companies, and with that in mind, would have the investment held by the parent company of SAIC, as opposed to the auto manufacturing arm of SAIC.
SAIC is one of GM’s largest Chinese auto partners.
However, the painful legacy of SAIC’s money-losing investment in South Korea’s Ssangyong Motors is giving SAIC pause in terms of taking the plunge on the money-losing Saab, so it is difficult to gauge how far along SAIC is in their decision process concerning a stake in Saab.
SAIC refused to comment on the Saab reports.
Koenigsegg, the tiny specialty Swedish supercar manufacturer, finalized terms of an agreement with GM in August to purchase the much-larger Saab, but has had some trouble lining up all the required financing for the deal.
GM sold Saab to Koenigsegg for a still-undisclosed price and expects the deal will close by the end of this year.
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