Koenigsegg confirms partnership
9 September 2009

Beijing Automotive Industry Company (BAIC) has signed a deal to take a stake in Koenigsegg Group AB.

The deal has been struck to help finance Koenigsegg's bid to takeover Saab Automobile.

"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 state financing," Koenigsegg CEO Christian von Koenigsegg said in a statement.

No financial terms of the memorandum of understanding between Koenigsegg Group and BAIC were given.

However, the two companies have said they plan to work together on expanding Saab's and BAIC's products in China and other international markets.

Twitter - follow autocar.co.ukSee all the latest Saab reviews, news and video

Join the debate

Comments
1

9 September 2009

Hopefully they build a nice exciting car with the money invested... the last one looked boring like a normal Saab...

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Volvo V90
    First Drive
    19 October 2017
    The Volvo V90 is a big estate ploughing its own furrow. We’re about to see if it is refreshing or misguided
  • Kia Stonic
    First Drive
    18 October 2017
    Handsome entrant into the bulging small crossover market has a strong engine and agile handling, but isn’t as comfortable or complete as rivals
  • Hyundai Kona
    First Drive
    18 October 2017
    Hyundai's funky-looking Kona crossover with a peppy three-cylinder engine makes all the right noises for the car to be a success in a crowded segment
  • Citroën C3 Aircross
    First Drive
    17 October 2017
    The Citroen C3 Aircross has got funky looks and a charming interior, but it's another small SUV, and another dynamic miss. Numb steering is just one thing keeping it from class best
  • Skoda-Karoq 2.0 TDI 4x4
    First Drive
    16 October 2017
    Diesel version of Skoda’s junior SUV is unobtrusive and undemanding, but we’d still go for the silkier petrol version of the Karoq