GLOBAL INDUSTRY DOWN TURN A BOON TO THE CHINESE AUTO INDUSTRIES!!!!!!!!!
The global industry down turn is a double bonanza for the Chinese leading automobile industries. The fast growing Chinese industries are chasing western brands to utilize the steep global industrial down turn.
Beijing Automotive Industry Holding(BASIC) is one of the largest auto maker in China. Recently Beijing automotive industry holding acquired Saab unit a part of General Motors as a part of developing its own cars. More over it will by the intellectual property for 9-5 and 9-3 sedans and other equipments for a huge unspecified sum.
This deal will help in the new saap production , but the Saap people clearly informed that the deal will not affect the sale of Saab to others.
The Dutch sports and ;luxury car maker SKYPER is also holding talks with general motors for Saab. Not only SKYPER and BASIC there are so many other automobile manufactures like GEELY automobile groups are running behind the western car manufactures to harvest the benefits of Global industry down turn.
Most of the Chinese Auto mobile industries are running behind VOLKSWAGEN, TOYOTA MOTORS for tie ups .
Acquiring some assets of GM by BASIC us a boon to the Chinese company. Though it is a fifth largest automobile maker in china,
It still does not have its own brand car. Hence, even though the Saab platform is old still it can use it for manufacture its own cars in future. More over it will get support from Saab as it will use the acquired technology in production of its own cars.