25 November, 2009
China's BAIC weighing options after dropped Saab bid
SHANGHAI, Nov 25 (Reuters) - Chinese automaker BAIC said it is reviewing its options and reaffirmed its commitment to become more global after a consortium it was part of pulled out of talks to buy money-losing Swedish automaker Saab from general Motors [GM.UL].
"Beijing Automotive Industry Holding Corp states that becoming more international ... has always been our strategic focus," the comoany said in a statement on Wednesday.
The company must decide its next move after its consortium, led by tiny Swedish luxury carmaker Koenigsegg, pulled out of talks to buy Saab, putting the future of the loss-making GM unit in doubt. [ID:nGEE5AN2H4]
"With regard to Koenigsegg's withdrawal, we will carefully evaluate this project anew and make appropriate arrangements," BAIC said. (Reporting by Doug Young; Editing by Chris Lewis) ((doug.young@thomsonreuters.com; +852 2843-1631; Reuters Messaging: doug.young.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))
Source: http://www.reuters.com
China's BAIC weighing options after dropped Saab bid Added: (25.11.2009)
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