• Sweden edition
 

Chinese BAIC expresses interest in Saab investment

Published: 02 Apr 2010 11:38 GMT+02:00
Updated: 02 Apr 2010 11:38 GMT+02:00

"We have a durable interest in deepening our partnership with Saab and we are ready to invest in the company," BAIC chief executive Wang Dazong told Swedish business daily Dagens Industri.

China's fifth biggest car maker was one of the bidders to take over loss-making Saab from General Motors, but the US group dismissed BAIC's bid and sold it to Dutch sports car maker Spyker Cars, Wang said.

In December, BAIC acquired the intellectual property rights for Saab's 9-3 and 9-5 car models for 140 million euros. It also signed a contract this week to sell Saab cars in its network in China.

In February, Spyker Cars bought Saab for $400 million, rescuing the Swedish company which GM was about to close down as part of its own efforts to recover from bankruptcy.

Spyker chief executive Victor Muller said last week that he intended to restore Saab to profit by 2012, raising annual production sixfold to 120,000 cars in 2012, employing an extra 500 workers and extending a Saab factory.

AFP/The Local (news@thelocal.se)

Don't miss...X
Left Right

Your comments about this article

18:38 April 2, 2010 by Scotsaab
Good news. Saab attractig interest from an emerging car maker. Will help strengthen finances and underscore credibility on the global front.

No one wants to see Saab lose its identity - but if Chinese investment will help, and it should, it could give Saab an opportunity to share technologies.

All that needs to be understood and secured is control of Saab's Swedish character and styling.
01:17 April 3, 2010 by Malmoman
I have nothing against the Chinese investing in Saab but this all reminds me of when Renault and Volvo considered a merger in the early 90s. I wonder how the Chinese culture will interact with the Swedish culture. I have always been fascinated with how the Swedes work smart versus working hard (sure that may be a stereotype). The Chinese I have studied with are much different in their approach to solving problems. It is an interesting question that I guess will be answered sooner than later...

Best of luck either way!
20:53 April 3, 2010 by a little helper
The Chinese you have studied can be very limited. Not even a Chinese can say he/ she really knows Chinese culture. As the culture in China is changing much faster than a human being can prepare for. And the country is so diverse. Do you have enough statistic and quick enough to measure 1.3 billion people within 6 months? If your study was 2 years old, then it is already out of date.

What is your based to say working hard ( and work stupily ) of Chinese workforce? If Chinese workforce is only cheap, most big companies will move their productions to somewhere than China.

Because still not many western people understand Chinese language, People do not really understand WHY Chinese have certain behaviors, then people judge Chinese behaviors based on those research of monkeys and mice / human on 60s/70s. If those researchs of Chinese people are correct, then the Chinese can only be seen in Zoo by now.

Good Luck to you, those are not willing to study Chinese culture and lanaguage!
18:53 April 5, 2010 by Alasdair MacCorquodale
You are surrendering huge areas of Swedish economy and technological expertise. Is this a sad outcome of having a Liberal political culture.

And Volvo. Where next?
12:23 April 6, 2010 by SaxSymbol73
@a little helper

While your first statement is correct--it is difficult to judge such a vast and complex nation as China--you should be more careful about getting upset about things that you read incorrectly.

Malmoman stated that Swedes work smart versus work hard and *at no time* indicated that the Chinese did otherwise. He simply stated that he wonders how the two groups will interact, and that the Chinese had a different approach to solving problems.

So before you get upset and go off on some rant accusing someone of pseudo-racism, read carefully what was said. If you're upset about people not knowing much about China, that's fine, but pick the place to complain about it carefully and specifically.

Good luck to you, those who are not willing to read English correctly!
Today's headlines
Sweden resumes aid to 'anti-gay Uganda'
Hillevi Engström and protesters against Uganda's anti-gay laws. Photos: Maja Suslin/Ben Curtis/TT

Sweden resumes aid to 'anti-gay Uganda'

Sweden has resumed sending development aid funds to Uganda, after suspending payouts back in March due to "anti-gay legislation". READ  

The Local List
Top ten coffee spots in central Stockholm
Fanny feels at home at the Blå Lotus. Photo: Isabela Vrba

Top ten coffee spots in central Stockholm

If you're wondering where to grab your next cappucino, then wonder no more. The Local talked to the locals in Stockholm and found out the best spots in town for the ultimate fika experience. READ  

Swedish neo-Nazis join fight in Ukraine
The Azov task force. Photo: Sergei Chuzavkov/TT

Swedish neo-Nazis join fight in Ukraine

Four Swedes are fighting with the Ukrainian task force Azov - a squad which flies a flag with Nazi symbols and, according to one Swedish soldier, fights for "a white Ukraine". READ  

Swedish elk get one-way ticket to Denmark
The elk in this picture are not the ones that will be sent to Denmark. Photo: The Uppsala Koala

Swedish elk get one-way ticket to Denmark

Up to a dozen elk will be transported from Sweden to Denmark in an effort to help maintain local marshlands. READ  

Sweden worst in EU at getting foreigners jobs
Photo: Henrik Trygg/Imagebank Sweden

Sweden worst in EU at getting foreigners jobs

UPDATED: Swedish citizens are the most likely to be employed in the EU, but Sweden is among the very worst when it comes to getting non-EU citizens into work. READ  

Man arrested for burning partner's face
Photo: Linn Malmén/TT

Man arrested for burning partner's face

Police suspect that a man in western Sweden is responsible for the extreme burns on his partner's face. The man has been arrested on suspicion of aggravated assault - and potentially attempted murder. READ  

In Pictures: Conchita Wurst in Stockholm
Photo: Maja Suslin/TT

In Pictures: Conchita Wurst in Stockholm

Eurovision winner and LGBTQ idol Conchita Wurst is in Stockholm this week for Stockholm Pride - and joined Swedes at Skansen for a colourful summer sing-along. READ  

Stockholm holds colour contest for new metro
Photo: Joel Bagon

Stockholm holds colour contest for new metro

Stockholm's new metro line is not set for preliminary construction until 2016, and will not be completed until 2022 - but Swedes already have the chance to vote for the new line's colour. READ  

Sweden's heat wave officially over
Photo: Johan Nilsson/TT

Sweden's heat wave officially over

The heat wave that swept over Sweden recently has finally passed, meteorologists reported on Wednesday, promising cooler and more autumnal temperatures around the corner. READ  

Ukraine rebels release kidnapped Swede
Rebel tanks on the road to Horlivka in June. Photo: TT

Ukraine rebels release kidnapped Swede

The Swede who was kidnapped by pro-Russian rebels has been released after nearly three weeks of being held hostage - although no one knows where he is now. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Analysis
National
Swedish youth suicides hit 25-year high
National
Politician reported for selling 'negro ball'
National
Police turn blind eye to Swedish 'slave trade'
Analysis
The top six ways the US and Sweden differ
Blog updates

27 July

Approaching Stockholm (Around Sweden in a kayak) »

"I woke up in the comfort of my own little cabin on Eva and Rolf’s boat, it was 7:30am and I was feeling a bit groggy after a couple of beers with all the lovely locals the night before. The previous day had really taken its toll on my body and I was very stiff and..." READ »

 

24 July

Sharing our Pride: Celebrating Love & the LGBT Community! (Stockholm in my American Heart) »

"It’s mid- July in Stockholm, and with much of the city on vacation, things can seem a little quiet – the streets, the bus, and the grocery store. One thing that has not paused for a summer break, though, is preparation for Stockholm’s Pride Festival, which will take place from July 28 to August 2...." READ »

 
 
 
Gallery
Stockholm Pride: Allsång på Skansen with Conchita Wurst
Skatteverket
Sponsored Article
Introducing... ID cards and permits in Stockholm
Gallery
People-watching, June 26th - 28th. Get inside Stockholm's hottest nightclubs
Gallery
Top ten Swedish taboos
Society
Seven-year-old Swede cycles to Berlin
Politics
'Gaza conflict needs help, not empty rhetoric'
Society
Swedes voted 'most beautiful' in the Nordics
Business & Money
Sweden demands EU clarity on Bitcoin tax
National
Swedish organic sales enjoy 'amazing' growth
Photo: Johan Nilsson/TT
Society
What's On in Sweden
Gallery
People-watching July 23
National
Swedish cops elect not to shoot 'angry elks'
Business & Money
New alcohol retail rules threaten micro-breweries
Gallery
People-watching Båstad
Business & Money
Sweden falls to third in global innovation index
Society
Swedish ornithologists keep webcam watch
Photo: Andreas Nordström/Image Bank Sweden
Gallery
Top ten Swedish beach hot spots
Tech
Swedish Wiki vet sets new content record
Photo: Fastighetsbyrån
Lifestyle
In Pictures: The Local's Property of the Week
Sponsored Article
Introducing... Your finances in Stockholm
Sponsored Article
Introducing... Housing in Stockholm
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

745
jobs available
Swedish Down Town Consulting & Productions
Swedish Down Town Consulting & Productions is an innovative business company which provides valuable assistance with the Swedish Authorities, Swedish language practice and general communications. Call 073-100 47 81 or visit:
www.swedishdowntown.com
If you want to drink, that’s your business.
If you want to stop, we can help.

Learn more about English-language Alcoholics Anonymous in Sweden. No dues. No fees. Confidentiality assured.
AA-EUROPE.ORG/SWEDEN
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
http://psdmedia.se