China's Beijing Auto Joins in Saab Takeover Bid
By wchung | 18 Mar, 2026
China’s Beijing Automotive Industry Holdings has struck a preliminary deal to become a minority stakeholder in Koenigsegg Group AB’s takeover of Saab Automobile from General Motors Corp.
Koenigsegg says in a statement Wednesday that the Chinese automaker has signed a memorandum of understanding to become “a non-controlling minority shareholder in Koenigsegg Group.”
Koenigsegg has been looking for additional financing to complete its takeover of Saab. It says the deal with BAIC will be completed later this year.
Koenigsegg CEO Christian von Koenigsegg says “we are now in a position to go ahead without any governmental financing.”
9/9/2009 6:45 AM STOCKHOLM (AP)
Articles
- Tariffs Keep Inflation Elevated, Says Powell
- How the Number 3 Smartphone Maker Did What Apple and Samsung Couldn't
- Japan Sets February Record with 3.46 Million Foreign Visitors
- Microsoft Considers Suit Against Partner OpenAI Over $50-Billion Cloud Deal
- Samsung Union Approves Strike Plan to Worsen Global Memory Chip Shortage
- Japan Pressured to Violate Pacifist Constitution, Send Escort Ships
- Chinese Students Told to Fall in Love As Beijing Targets Births, Consumption
- Japan Exports Grew for 6th Straight Month on Strong Asia Demand
- China Grants Approval to Purchase Nvidia H200 GPUs
- Powerful New AI Model Appears on OpenRouter, DeepSeek Suspected