Tag Archives: Hyundai

BAIC Visits Saab Factory To See Technology & Engineering

Posted on 24. Sep, 2009 by .

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Trollhattan’s TTELA indicates that BAIC‘s CEO, Wang Dazong has visited the Saab Factory this week to see the technology and the engineering.

During this visit, Dazong has indicated that his company wants something in return for their investment stake with Koenigsegg Group. This “something in return”, now appears to be technology, engineering and intellectual property rights.

So the question here is how will this interest in Saab technology & engineering differ from the program that Saab had with GM? Why can’t BAIC just get a tiny fraction of all car sales in return for their financial support?

Below is the TTELA report loosely translated from Google Translate.

BAIC examines Saab Technology
Trollhättan Employees from China Beijing Auto has been at Saab in Trollhattan in once a week. On Thursday was CEO there.
Purpose: See if there is technology to buy the company’s manufacturing operations in China.

– They are so far very pleased with what they’ve seen, “says Kjell ac Bergstrom, CEO of Saab’s subsidiary Powertrain Sweden, to TT.

Beijing Automotive Industry, which shortened BAIC, the Chinese company to invest money, probably billions, of Koenigsegg Group is to buy the Saab Automobile from General Motors.

The company has promised a minority stake in Koenigsegg Group, but to get the letter of intent to mature into a definitive agreement with spices Koenigsegg Saab Technologies.

– BAIC is prepared to invest what is needed, but want to get something in return. They have not gone into this just because it’s fun to support Trollhättan, “says Kjell ac Bergström.

Want to buy everything

He confirms that BAIC, Geely Automobile and Chinese, were among the 20 different stakeholders in the spring, wanted to buy the entire Saab. The first time the company representatives were visiting in April.

This time, BAIC employee looked closely at what makes Powertrain, namely powertrains including engines, but they have also been examined including the production and marketing department.

– Most interested are the intellectual property rights. They want to see what Saab has for technology that can be used in their own production, “says Kjell ac Bergström.

CEO Visit

On the way home from the Motor Show in Frankfurt was CEO Wang Dazong to Trollhattan on Thursday to coordinate how the work goes.

BAIC, which is owned by Beijing Municipality, currently produces primarily vehicles on behalf of established brands as Hyundai and Mercedes. The goal is to grow significantly.

– In order to be able to develop its own brand, the access rights from a manufacturer like Saab, who can sell the licenses, “says Kjell ac Bergström.

GM and Saab are still negotiating about the technology Saab owns. It’s just that the Chinese will see. In addition, Saab has taken a lot of precautions.

– They may not take any photos, nor make any copies, “says Kjell ac Bergström.

He is, like, the management of Saab and Koenigsegg Group, warmly welcoming BAIC.

– The company feels very stable, with a leadership that has experience in Western automotive businesses, “he says.

TT

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Koenigsegg Group AB Signs Memorandum Of Understanding With Beijing Automotive Industry Holdings

Posted on 09. Sep, 2009 by .

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Today, the first ever press release by Koenigsegg Group AB regarding the Saab Automobile deal, indicates that they have signed a memorandum of understanding with Beijing Automotive Industry Holdings.

This press release was not only showcased on Saab Automobile’s media site, but like I said, the first ever regarding Saab, published today directly on Koenigsegg’s media page here.

For more information on BAIC, please visit their website address here: http://www.bqkgdjw.com/

Here is the press release below.

2009-09-09

CONTACTS

Koenigsegg Group AB signs MOU with Beijing Automotive Industry Holdings Co. Ltd (BAIC) regarding SAAB Automobile AB

Koenigsegg Group AB has signed a Memorandum of Understanding (MOU) with Beijing Automotive Industry Holdings Co. Ltd. (“BAIC”) to explore growth opportunities in the Chinese and international markets for the products of SAAB Automobile and BAIC.

Under the terms of the MOU, BAIC would become a non-controlling minority shareholder in Koenigsegg Group. Koenigsegg Group will own 100 per cent of SAAB Automobile AB. The intention is to conclude an agreement later this year. Due to confidentiality agreements signed, further facts cannot be discussed at this time. The Swedish Government has been fully briefed on the MOU.

“This is an important step on the road to a new SAAB Automobile. We have a solid business plan, an important partnership and we are now in a position to go ahead without any governmental financing,” said Christian von Koenigsegg, CEO of Koenigsegg Group AB.

Koenigsegg Group now focuses on the ongoing discussions with the Swedish National Debt Office about the government guarantee for the loan with the EIB that SAAB Automobile has applied for.

About Koenigsegg Group AB: Koenigsegg Group AB is a consortium of private investors with an industrial and entrepreneurial background. Augie K. Fabela II, an American entrepreneur was the co-founder of Vimpelcom (NYSE: VIP), and is the lead shareholder in the consortium, which also includes Norwegian entrepreneur BÃ¥rd Eker and Christian von Koenigsegg, the founder of Koenigsegg Automotive AB. Koenigsegg Group is a long term investor and its vision is to revitalize the SAAB brand and transform SAAB Automobile into a standalone independent company.

About BAIC: Beijing Automotive Industry Holding Co. Ltd, headquartered in Beijing, is one of the major auto manufacturers in China. It established Beijing Jeep Corporation, the first Sino–U.S. automotive joint venture with American Motors (AMC) in 1983. In the past 30 years BAIC has successfully built up partnerships with two auto giants – Hyundai and Mercedes Benz, as well as close cooperation with twelve auto components makers. There are more than 20 joint ventures in total within BAIC, engaging in auto or auto parts manufacturing businesses. Today BAIC is one of the most competitive auto groups in China, with four auto manufacturing subsidiaries with a product portfolio of passenger cars, SUVs and commercial vehicles. BAIC is one of the fastest growing auto companies in China. From January to August BAIC sold 792,550 vehicles, with a year on year growth of 42.4 per cent. The total car sales are expected to reach 1.13 million this year.

CONTACT(S):
Christian von Koenigsegg
Koenigsegg Group
Tel: +46 431 45 44 60
Email: info@koenigsegg.se

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