Dong Haiyang, president of Beijing Automotive Group’s new international arm, claims the company is looking at acquiring an established European car maker.
Reports say that investment banks acting for Beijing Auto have zeroed in on three medium-size companies with “good brand image”. Haiyang says Beijing Auto wants to use an established brand’s European facilities to expand production. The company is also keen to pick up a brand with good heritage within Europe, thus tapping in to established customer bases.
While not revealing any names, Haiyang did admit that two companies are currently being 'investigated' by his team of reseachers.
Beijing Auto has previously bought the old Saab 9-5 platform, the 2003 9-3 platform and Saab’s venerable slant-four engines. The C51X SUV, which is based on the 9-3, will go on sale next year.