BEIJING Dec 23 Beijing Automotive Industry
Holding Corp (BAIC), China's fifth-largest carmaker, said it will
invest 33 billion yuan ($4.83 billion) in vehicle development and
production over the next three years, following its purchase of
technology from GM's [GM.UL] Saab unit.
The company announced the investment figure on Wednesday at a
media briefing following its purchase of the Saab intellectual
property, including three vehicle platforms.
Earlier in the day, BAIC said it had paid $200 million for
the property from Saab, including rights to the vehicle
platforms, two engine technologies and two transmission systems.
(Reporting by Michael Wei, writing by Doug Young; Editing by