General Motors has sold some of the key assets of the Saab brand to a Chinese company.

Beijing Automotive Industry Holding Company (BAIC) has acquired the rights to the powertain technology and tooling of the current 9-3 and 9-5 models. BAIC will move the tooling for the 9-5 to China, where it will build vehicles. Saab is also reported to be helping BAIC integrate its technology into future BAIC models.

Saab managing director Jan Ake Jonsson said: "This arrangement is excellent for both parties, now and for the future. We  look forward to working with BAIC to integrate this Saab technology into their future vehicles."

The sale of some assets has been promopted by the collapse of a deal with Swedish sports car maker Koenigsegg to buy the Saab brand. It is unclear what the future is for Saab as a brand, and for the new generation 9-5 model it is set to launch next year. A new version of the 9-3 is also in the pipeline, due for launch in 2011.