Chinese automotive group Youngman is on the verge of making a fresh bid for Saab

Chinese automotive group Youngman is on the verge of make a bid for Saab, according to news reports in Sweden.

Dagens Industri, a Swedish business news organisation, says Youngman is preparing to submit an offer of about £430 million for the bankrupt car firm.

Youngman’s top brass – including chairman Pang Qingnian – are due to travel to Sweden next week to present the bid, which involves a further £400m being invested to develop new models on the Phoenix platform.

General Motors, which had technical licensing agreements with Saab, has threatened to cancel those agreements if the car company was taken over by Chinese interests.

Such a move would impact on Saab’s current model range, but Youngman believes it can make Saab work without GM’s involvement.

If the bid is successful, Youngman intends to commence production of the 9-3 model in about April or May.

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19 January 2012

I have to say I will believe it when it happens, all the same it is a shame GM would not co-operate with a Chinese owned SAAB in the way that Ford is continuing co-operation with Geely owned Volvo.

GM is of course working with SAIC to produce Chevy's and Buicks in China.

Chang-an the Ford joint venture company that made Volvos in China before Geely is Ford's partner company in China. I believe Ford IP is much newer than what GM is preventing SAAB transferring to Youngman.

19 January 2012

What would be good now is a complete moratorium on all Saab-related news items, gossip and guesswork unless and until someone buys the company.

19 January 2012

Start production of the 9-3 by April May this year!!!! Which one? The old 9-3 is total GM The new one "Phoenix" is no where near ready for production, it hadn't even gone to tooling yet before bankruptcy. I reckon it would be another 2 years until the phoenix 9-3 entered production at the very least based on other reports. This sounds like Dagens Industrii doing what it does best report and add a little to spice the mix. Why let the facts get in the way of a good story.

19 January 2012

[quote Londonist]What would be good now is a complete moratorium on all Saab-related news items, gossip and guesswork unless and until someone buys the company.[/quote]

I agree. Its just one big merry-go-round and is getting pretty tiresome.

19 January 2012

I say good luck to them will be a poke in the eye for GM at the very least. 9-3 may sell well in China. The sad thing is the brand has been damaged by the past 18 months and will take years to build up its reputation. In terms of people feeling secure to buy one in Europe. Shame the 9-5 will die as it had real potential just needed investment to polish it up into a good car dynamically.

A new 9-3 and a baby 9-1 may be all Saab needs to start its recovery process if enough money is pumped in and Saab can keep going.........

19 January 2012

Indeed, very frustrating, and one does see the SAIC angle and the possible implications for that agreement, but frankly the scale and timeline of the Saab deal are very unlikley to impinge, this is pure fortress GM stuff.

19 January 2012

I have seen this scenario before..... just like rover/MG.... the Chinese seems interested and sign initial deal, then go away (apparently to get approval from Chinese government). and wait just long enough until the company shuts down and declare bankruptcy, then they come back to pick up the technology and patents for cheap to reproduce in china. its a shame that our governments in the EU are only concerned with banking debts and dont have the political will to save engineering companies (with the exception of Germany) which actually make products and employ people. SAAB could've been bailed out by European Governments or even European investment banks but the problem is our governments don't push banks to bail out something like SAAB.

19 January 2012

[quote JezyG]A new 9-3 and a baby 9-1 may be all Saab needs to start its recovery...[/quote] Is that all? Just two new model lines. Consider it done. Now, how do we save Lotus...

19 January 2012

I just wanted to add this small passage from Saabsunited. I've spent quite a few years constantly trying to tell people that the current 9-3 is not a rebadged vauxhall Vectra.

I hope that in reading this people will finally become aware how much re-engineering went into the first Epsilon 2003MY 9-3 because GM don't own the IP in the architecture.

Quote from SU.com
When the current 9-3 was developed the engineers hugely altered the Epsilon-I platform. It was said that this had been done to make sure the 9-3 was manufactured in Trollhättan only. As Spyker took over Saab this became a benefit as the 9-3 was the only model in the portfolio Saab did not have to pay license fees for. They still had a huge amount of GM stuff in the car but the IP of the 9-3 is owned by Saab.

19 January 2012

[quote WooDz]Quote from SU.com
When the current 9-3 was developed the engineers hugely altered the Epsilon-I platform. It was said that this had been done to make sure the 9-3 was manufactured in Trollhättan only. As Spyker took over Saab this became a benefit as the 9-3 was the only model in the portfolio Saab did not have to pay license fees for. They still had a huge amount of GM stuff in the car but the IP of the 9-3 is owned by Saab.[/quote]

Who quoted that? Any Bias perhaps? We can all find quotes to suit our arguments. I have to dash out but when I get back tonight / tomorrow I'll take a look thru SU because I seem to remember when GM put the brakes on a Chinese deal and there was a certain amount of anger, someone (I think it was a regular fan) told everyone that it was just a Vectra.

Get back to you on that.

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