General Motors is still seeking a buyer for Saab

(China Daily/Agencies) – Beijing Automotive Industry Holding Co said it will “move fast” on General Motors Co’s Saab unit after its partner scrapped a bid for the Swedish automaker.

“Stay tuned,” Beijing Auto president Wang Dazong said yesterday in Nanjing, Jiangsu province, when asked whether the company would bid alone for Saab or as part of a group.

GM may shut Trollhaettan, Sweden-based Saab if the unit isn’t sold, a person familiar with the matter said last week after Koenigsegg Group AB walked away from a Beijing Auto-backed bid.

Wang declined to say whether a bid would be submitted before GM’s board discusses the unit’s future at a meeting today. “I can’t control GM’s timetable,” Wang said. “We want to move fast.”

Saab is attractive for its brand and its technology, Wang said, adding that a lack of “technology depth” is one of Beijing Auto’s weaknesses. In July, the Chinese carmaker’s bid for GM’s Opel unit failed because the companies couldn’t come to an agreement over intellectual property rights to car designs and technology, Beijing Auto said at that time. …read more at ChinaDaily.com…