Beijing Auto Says Still in Mix for GM's Saab

BEIJING (TheStreet) -- Beijing Automotive Industry Holding might still be interested in buying the Saab unit of General Motors , the Chinese car company's general manager Wang Dazong told reporters on Monday.

"I would just say, 'Stay tuned a little bit,'" Wang said when asked whether BAIC would consider approaching Saab as a solo buyer or only as a part of a consortium, Reuters reports. BAIC was part of a consortium led by Swedish automaker Koenigsegg which pulled out of talks last week to buy Saab.

Meanwhile, Saab officials said the brand has received serious expressions of interest from potential buyers. "We've had intense dialogue with potential buyers," Eric Geers, a Saab spokesman, said on Friday.

Several people familiar with the matter told the Wall Street Journal that Saab has been in discussions with at least two U.S. investment firms, Wyoming-based Merbanco and Renco Group in New York. The Journal's sources say that at least one of the firms would be open to working with BAIC.

BAIC's Wang told Reuters that the company's strategy of going global was in place and the automaker was aiming for 30% sales growth next year, outpacing an expected industry average of 10%.