Beijing Automotive Industry Holding Co. (BAIC) plans to invest US$2.25 billion in General Motors’ (GM) European Opel unit to increase production capacity in China by 2015. According to documents obtained by Dow Jones Newswires that detail the Chinese company’s takeover plans, BAIC would expand production in China to 485,000 Opel cars by 2015 and also [...]
Beijing Automotive Industry Corp (BAIC) has submitted a non-binding bid for Opel, a German unit of General Motors, and is planning to give a binding offer by mid-July. No details on the size of the bid were supplied. The bid would bring to three the number of companies competing for the Opel unit. A bid [...]
Beijing Automotive Industry Holding will present a detailed bid to General Motors (GM) for its Opel unit in Europe within a few days. Beijing Automotive held discussions with beleaguered GM over the Opel unit last week and is currently working out details for a bid. However, GM in May signed a memorandum of understanding to [...]
Beijing Automotive Industry Corp (BAIC) has joined Geely in the competition for the acquisition of Ford’s Volvo brand. BAIC executives may visit Volvo’s Swedish headquarters as early as Thursday to begin due diligence on the acquisition target. BAIC’s interest in the firm comes as the bidding for Volvo has been narrowed down to three or [...]
Beijing Automotive Industry Corp (BAIC) may consider buying General Motors’ Saab brand following the likely failure of its attempt to buy GM’s Opel. BAIC, the joint-venture partner of Germany’s Daimler, entered a bid for Opel in May, a day after the seller’s deadline; Canada’s Magna International has signed a letter of intent with GM to [...]
