BEIJING—Beijing Automotive Industry Holding Co. was thwarted again this week in its effort to gain access to advanced foreign technology after a deal involving General Motors Co.'s Saab unit fell through.
But analysts expect the Chinese auto maker to try again as it seeks a platform for extending its reach world-wide.
Beijing Auto said Wednesday it regrets the collapse of the deal. Koenigsegg Group AB of Sweden struck a preliminary deal in September with Beijing Auto under which the government-owned Chinese auto maker would take a minority stake in Koenigsegg, in return for helping the Swedish exotic-car maker close a funding gap to buy Saab. On Tuesday, Koenigsegg said it was backing out of the deal, citing a series of costly delays in closing the Saab deal.
Industry observers are now wondering whether Beijing Auto might continue to pursue Saab, though the company was mum about the prospect Wednesday. "In light of Koenigsegg's withdrawal, we will cautiously re-evaluate the situation and make appropriate plans," Beijing Auto said in a written statement on Wednesday.
"My gut feeling is that [Beijing Auto] will continue, even without Koenigsegg," said CSM Worldwide analyst Yale Zhang. "They seem pretty determined."
In an interview last month, Beijing Auto President Wang Dazong told The Wall Street Journal: "If you're an auto maker and want any chance in surviving, you really have to go global and become bigger."
Acquiring an overseas auto maker and foreign technology could be the best way to build a strong brand, Mr. Wang said.
Beijing Auto's bid to acquire a stake in another GM brand, Adam Opel GmbH of Germany, ended in July after the two sides failed to reach an agreement on issues involving intellectual-property rights.
