Chinese carmaker Beijing Automotive Industry Corp is in the running for General Motors' European unit with a bid worth 660 million euros (922 million dollars), according to reports. BAIC and GM China were both unavailable for comment when contacted by AFP Sunday.
BAIC submitted a non-binding offer for GM's German-based unit Opel late Thursday, just before a deadline for prospective buyers, according to China's Guangzhou Daily newspaper, the Financial Times and Dow Jones Newswires. BAIC's offer was said to be worth 660 million euros. Russian state lender Sberbank is also in the bidding for Opel in partnership with Canadian auto parts manufacturer Magna International.