BAIC will 'move fast' on Saab bid, chief says

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.