On Friday, Beijing Autos shared that it is looking to explore "further cooperation" with General Motors' Saab Automobile like "new energy vehicles", and the development has followed an earlier announcement that the China based manufacturer would purchase Saab's car and engine technology from the struggling automobiles maker.

As confirmed by Beijing Autos' President Wang Dazhong, Saab is also looking for his firm to import and sell Saab brand vehicles in the Chinese automobile market, which this year has been designated the world's biggest auto sector.

Beijing Autos, which is state-owned, on Monday had announced its agreement to purchase "powertrain technology for Saab's 9-5 and 9-3 sedans, including engine and gearbox knowhow", but no financial details of the deal have been shared by any of the parties involved.

"We need to grow a global company. We need to explore new opportunities to cooperate with Saab, such as in new energy vehicles", said President Dazhong.

Beijing Autos has set a target to sell at least 1.2 million vehicles this year alone.