China Business News [via Gasgoo] reports that Automotive Industry Holding (BAIC) is miffed. They’re walking from any Opel, Saab and Volvo deals. BAIC will not engage in more talks— for the time being. China Business Daily claims to have a source on the inside.
The source told the newspaper that BAIC will not hold any talks anymore “because the foreign automakers are not really interested.”
The deep throat said, “BAIC did hold a brief talks with Opel, but with our bid arriving late and German’s government’s pressing on a Magna deal, BAIC’s acquisition of Opel becomes an unlikely outcome.”
Saab said it wants to avoid competition with the same range of GM models in the Chinese market.
Volvo does not want to sell its brand or transfer its production to China.
With Opel probably going to Magna, and Reuters reporting that Saab will probably ink the deal with Koenigsegg this week, Volvo remained the only open matter. For now all deals are off. At least for the time being and at least as far as BAIC is concerned. As one Chinese hunter says to the other: “Hai Bu Zhi Dao Lu Si Shui Shou ne.” You never know who will finally kill the deer. Especially if it’s lost on a country road.