Chinese carmaker Youngman is still negotiating to try to salvage parts of bankrupt Saab, according to reports. Youngman was bidding to buy until Saab until the latter’s company chiefs filed for bankruptcy on Monday after the Chinese deal was blocked by former owner General Motors, which owns the rights to much of the technology and components used by the Swedish car maker.
Youngman chief executive Rachel Pang visited Saab’s Trollhattan production plant yesterday (Wednesday) to meet with the administrators that have been appointed to manage Saab’s affairs.
The Chinese company is believed to be particularly interested in the Phoenix platform that Saab had been developing as a base for its next generation of models, as well as the Saab Powertrain and R&D departments.
The main sticking point to such a deal remains gaining approval from General Motors, although if Youngman focused on producing cars from the Phoenix platform, as opposed to using existing GM-supplied technology, this would negate the necessity for GM to approve the Saab sale. However, this would mean any new models cars would be at least two years away from the showroom, according to Youngman sources.