Beijing Auto takes up stake in Koenigsegg
When Koenigsegg announced that it was interested in taking over Saab from GM, other than the usual questions on whether the Swedish supercar company would have the ability and experience to turn the brand around, there was also the question of how Koenigsegg was going to finance the deal.
Of course they’re going to get help – and the first ‘partner’ has been announced – Beijing Auto. Beijing Auto will be taking up a stake in Koenigsegg which will help them finance the Saab takeover bid. “This is an important step on the road toward a new Saab. We have a well prepared business plan, an important partnership and we are ready to proceed without government financing,” said Koenigsegg CEO Christian von Koenigsegg.
Beijing Auto was not successful in their bid to get a piece of the GM Europe pie with Opel and Vauxhall, but plan B seems to have worked – they now have another way in through Saab. There were also rumours earlier this year that Beijing Auto is seeking to buy Delphi’s non-core assets and Volvo, though now Geely is the only sole bidder for Volvo. Beijing’s JV partners in China include Daimler AG and Hyundai.
September 9, 2009 @ 10:03 pm
Oh well, if one can’t go through the front door…there’s always the back door..
September 10, 2009 @ 12:59 am
this is shit….china….gross
September 10, 2009 @ 8:58 am
This is….creative strategic business thinking…… *clapclapclap*
September 10, 2009 @ 10:14 am
china is a huge mkt for auto industry
VW and Audi has proven their sales in China way back in d 80’s
Volvo is d recent badge tht would like to enter China mkt wth introduction of the S80 wth long wheel base model….
Saab will be another choice in the near future
September 10, 2009 @ 11:10 am
Yup, Even MG Rover is doing great in China…
Until now, i haven heard of our Gen.2 brother doing quite well there…
September 10, 2009 @ 12:22 pm
sell proton to china laa then… or if kenot then sell khazanah to china, then can own proton as well
September 10, 2009 @ 1:07 pm
Mazda 3 MPS said,
‘this is shit….china….gross’
wow,even china invest saab also cant in ur opinion huh, u mindset of everything related to china is lousy or dirty??…our savy and gen 2 got sell in china but is not proton,the badge is lotus..and a gen2 is more expansive than a vios 1.6 at china…yes,vios got 1.6 version in china..
September 10, 2009 @ 2:35 pm
No wonder this new SAAB look chinese.
September 10, 2009 @ 3:38 pm
india should buy saab
September 10, 2009 @ 5:05 pm
Let them buy. They have lots of money now and still ripping other people’s cars. Next time there is an economy crisis, they will suffer and more brands will be axed. Maybe their own brands will be axed or they have already sucked the entire company they are buying dry so can just dump the company.
September 10, 2009 @ 9:49 pm
a chinese koenigsiegg is dreadful…i hate china
September 11, 2009 @ 8:47 am
BAIC is actually doing well selling Hyundai vehicles in China and they’ve got thier own brands also like Foton which concentrates on selling commercial vehicles and trucks.
September 11, 2009 @ 11:17 pm
i hate china…..why didn’t honda buy over saab?
September 12, 2009 @ 9:24 am
One more tauke cina in car business
September 12, 2009 @ 12:53 pm
Only China can save the world.
September 16, 2009 @ 1:54 pm
The Vikings are rolling over in their graves…