Last Thursday, Beijing Automotive (BAIC) made an interesting announcement. Reuters reports the company is looking into buying a "mid to high-end brand" in Europe or the United States. If you're wondering, they have a number of companies in mind, but don't give out any names. President Dong Haiyang told reporters at a briefing in Beijing that this would allow them to break into the global marketplace much quicker.
The company already some ties in the automotive world mostly in Europe. First, the company bought the bulk of the technology that underpins the last-generation Saab 9-3 and 9-5 sedans from GM back in 2009. Then last week, the company signed a joint-investment agreement with Diamler to work on doubling production by 2015.