General Motors’ Hummer brand is slated to become the property of a Chinese company within the next few months, but Hummer may not be the only former GM brand set to fall under Chinese control. China’s SAIC is reportedly pursuing a part ownership of the Saab brand.
According to Reuters, SAIC is currently holding talks with Koenigsegg – Saab’s new owners – about purchasing a share of the Saab brand. However, even if the transaction is completed, Koenigsegg will remain the main owner of Saab with SAIC acting as a passive investor.
“SAIC is considering taking a stake in Saab but has not made up its mind on that or the size of any possible investment,” an inside source told Reuters. “If it finally decides to go ahead, it will most likely be the parent company rather than the listed SAIC that would take a stake in Saab.”
SAIC – one of GM’s China partners – is said to be keen on acquiring part of the Saab brand, but is being held back by an investment in Korea’s Ssangyong. Ssangyong was forced to file for court protection earlier this year.
Whatever the case, Koenigsegg still needs to raise about $420 million in financing to complete the Saab transaction, so a partner is expected to be announced within the next few months.
