{"id":66499,"date":"2009-12-06T12:37:00","date_gmt":"2009-12-06T17:37:00","guid":{"rendered":"http:\/\/www.autoblog.com\/2009\/12\/06\/reuters-chinas-baic-secures-2-1b-line-of-credit-is-it-for\/"},"modified":"2009-12-06T12:37:00","modified_gmt":"2009-12-06T17:37:00","slug":"reuters-chinas-baic-secures-2-1b-line-of-credit-is-it-for-saab","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/66499","title":{"rendered":"REUTERS: China’s BAIC secures $2.1B line of credit… is it for Saab?"},"content":{"rendered":"

Filed under: China<\/a>, GM<\/a>, Saab<\/a>, Earnings\/Financials<\/a>, Koenigsegg<\/a><\/p>\n

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Beijing Automotive Industry Corporation (BAIC<\/a>) could still be in the game for Saab, having secured a $2.93 billion line of credit from the Bank of China. On the other hand, BAIC could just be gearing up for its own home-grown expansion plans, with an eye on ramping up production and putting financial and technological legs underneath its partnerships with Mercedes and Hyundai.<\/p>\n

Or… it could be doing both: trying to buy Saab and as well as remodel its business. The deal for Saab<\/a> between GM<\/a> and Koenigsegg<\/a> was for about $1 billion: the European Investment Bank approved a loan for $615 million<\/a>, and BAIC provided about $400 million<\/a> by buying a minority stake in the Koenigsegg Group. If BAIC did its own deal with GM for that same amount — although we have a feeling they could get a Christmas discount — that would leave nearly $2 billion for BAIC to take care of Saab and invest in its own operations.<\/p>\n

This is, of course, pure speculation — BAIC could have something else in mind entirely. All we know right now is that they’ve got a lotta yuan just sitting around waiting to be spent, and aborted plans to build the new 9-5 in China<\/a>. This Saab story isn’t finished yet…<\/p>\n

[Source: Reuters<\/a>]<\/p>\n

REUTERS: China’s BAIC secures $2.1B line of credit… is it for Saab?<\/a> originally appeared on Autoblog<\/a> on Sun, 06 Dec 2009 12:37:00 EST. Please see our terms for use of feeds<\/a>.<\/p>\n

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Read<\/a> | Permalink<\/a> | Email this<\/a> | Comments<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Filed under: China, GM, Saab, Earnings\/Financials, Koenigsegg Beijing Automotive Industry Corporation (BAIC) could still be in the game for Saab, having secured a $2.93 billion line of credit from the Bank of China. On the other hand, BAIC could just be gearing up for its own home-grown expansion plans, with an eye on ramping up […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-66499","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/66499","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=66499"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/66499\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=66499"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=66499"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=66499"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}