May 26, 2009

Fourth Bid for Opel from Beijing Auto, Decision Wednesday

Via Reuters, a source inside the negotiations to determine the fate of GM's storied European subsidiary Opel says interest from the Chinese is "very high" and that BAIC (Beijing Automotive Industry Holdings) is the 4th bidder. BAIC began as one of the first major US-China joint ventures in 1985 but had a difficult start with its assembly of Jeep vehicles. Since that time it has emerged as a major auto conglomerate. Berlin has told bidders to strengthen offers. A decision is expected Wednesday....

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