As some of the world's best-known auto brands stumble in the global downturn, the Chinese auto industry is again on the prowl for bargains. This time, Beijing Automotive Industry Holding is moving to get a piece of Saab, striking a tentative accord on Sunday for the right to produce versions of the beleaguered Swedish manufacturer's older models in China. If completed, people close to the negotiations said on Sunday, the deal would not prevent a separate buyout of all of Saab, a unit of General Motors that was left flailing after negotiations last month between GM and the high-end Swedish automaker Koenigsegg to buy it failed. The fate of Saab's 3,500 workers in Trollhattan, Sweden, remains uncertain. But a Saab official briefed on the discussions said that a pact with the state-owned Beijing Automotive 'would be good for Sweden, good for China and good for Saab.' As American automakers have contended with huge losses -- and bankruptcy in the case of GM and Chrysler -- Asian buyers have stepped in to scoop up several of their luxury brands. In March 2008, Tata Motors of India bought Jaguar and Land Rover from Ford for $2.3 billion, and Ford is now in final negotiations to sell Volvo to Zhejiang Geely Holding of China. A spokesman for GM declined to comment on Sunday about Saab's talks with Beijing Automotive, which is based in Beijing. Several buyers are reportedly still negotiating to buy Saab. These include Renco, owned by the American financier Ira L. Rennert, and Spyker Cars, a specialty automaker in the Netherlands. Spyker has confirmed its interest in acquiring Saab, but a spokesman declined further comment. Spyker sells 30 to 50 high-performance sports cars a year, which are made to individual order and cost just under a quarter-million dollars each. As was the case for Koenigsegg, taking over Saab would mean a large increase in production as well as a formidable business challenge for Spyker, especially given GM's inability to succeed in making Saab profitable. It would also expose Spyker and its Russian backers to more public scrutiny, some of it potentially unwelcome. The main investor in Spyker is the Russian bank Convers Group, which is controlled by Alexander Antonov, a Russian tycoon who was shot seven times and reportedly lost a finger in a failed assassination attempt in Moscow in March. His son Vladimir Antonov, a 34-year-old banker who is a top executive at Convers, is chairman of Spyker. Like China, Russia is trying to increase its profile in the global auto industry, and Sberbank of Russia was a major investor in the failed effort by Magna International to acquire GM's European operations earlier this year. Beijing Automotive was one of Koenigsegg's backers in the earlier Saab acquisition plan, potentially contributing $200 million to $300 million toward the deal. The Chinese automaker has long coveted Saab's engineering expertise, but the leaders of Saab are eager to prevent a breakup of the company, which has been making cars for 60 years. The new agreement would not cover Saab's new version of the 9-5 luxury sedan, scheduled to arrive in showrooms in April. It is the first update of Saab's top-end car in 12 years. The new 9-5 would compete with other European luxury cars like the Audi A6 and BMW 5 series and be priced at about $40,000. In 1990, GM paid $600 million for half of Saab, and anted up $125 million in 2000 for the rest of the company, which has long commanded a small, loyal following in the United States for its idiosyncratic but stylish models. But sales suffered in recent years as drivers believed Saab had lost its distinctive identity under the sway of Detroit. The new 9-5, company officials said, is an effort to revive Saab's traditional appeal in Europe and win back loyal customers in the United States while increasing production in Trollhattan. If Saab production in Sweden survives, it will be a boost to the country's industrial base. The area around Trollhattan and Goteborg to the south is home to both Saab and Volvo factories, and a network of auto-parts makers and other suppliers in the region is dependent on the two companies. 'The Saab organization is still intact,' said Eric Geers, a spokesman for Saab in Sweden. 'We're very excited about the new 9-5, which has already been received positively by enthusiasts around the world.' While the survival of Volvo and Saab would be welcome news for their workers and the Swedish economy, it could worsen the broader problem of automobile industry overcapacity in Europe. Many European automakers have had steep losses during the economic downturn, but a combination of strong unions and political pressure from governments has prevented factory closures or layoffs across the Continent. What's more, under their new owners, Saab and Volvo would be likely to try to raise production, threatening profit margins in the middle to upper range of the auto market. Under GM's control, Saab was hobbled by a small range of models as well as a sense that it was less connected to its Scandinavian base in terms of engineering and design. 'The whole point of the new business plan,' Geers said, 'is everything comes back to Sweden and we emphasize the true Swedishness of the brand.' 'We have a loyal base of customers and dealers and employees around the world,' he added. 'Everybody is extremely eager to start up the new Saab.' 