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Beijing Automotive Group

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The Beijing Automotive Industry Holding Co. Ltd. (BAIC) (simplified Chinese: 北京汽车工业控股有限责任公司; pinyin: Běi ​jīng ​qì​chē​gōng​yè​ jìn​chū​kǒu ​gōng​sī​) is the holding company of Chinese automobile and machine manufacturer Beijing Automotive Import & Export Corporation (BAIEC) located in Beijing.

BAIC is aiming to unveil several own-brand vehicles in 2010 and wants to double overall sales to 2 million a year by 2011.<ref>http://www.ft.com/cms/s/0/0cf9efa2-e88f-11de-9c1f-00144feab49a.html</ref>

Profile

The company was founded around joint ventures with Western automobile manufactors, namely Jeep and Daimler-Benz (see Beijing-Benz DaimlerChrysler Automotive). The company produces around 700,000 jeeps, light-duty trucks and travelling vans per year. In 2009, the company has become known for being a bidder for both GM's European branch Opel and Ford's Swedish subsidiary Volvo. In September 2009 it was announced that BAIC was going to join as a minority stakeholder into a deal with Koenigsegg Automotive AB to buy the Swedish car manufacturer SAAB,<ref>Template:Citation/core{{#if:|}}</ref> however the deal fell through in November 2009.

In December 2009, Beijing Automotive Industry Holding Corp said it paid $200m for technology from General Motors’ Saab unit, allowing it to roll out Saab-based cars as soon as 2011. The intellectual property bought by BAIC, includes the rights to three overall vehicle platforms Saab 9-3 and Saab 9-5 technologies, two engine technologies and two transmission systems.<ref>http://www.reuters.com/article/idUSLDE5BD2E920091214 BAIC paid $197 mln for Saab assets - paper</ref>

Models

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External links