Today China Car Times reports that CEO of Pang Da, Mr. Pang Qinghua, has said in a recent interview that the due diligence process on Saab is coming to an end, and that he is confident that the government, based on the due diligence report, will approve the tripartite partnership between Pang Da, Youngman and Saab.
To get the approval from the Chinese authorities, first an application needs to be handed in. Mr. Pang Qinghua said in the interview that Youngman is the party that needs to file the application and that Pang Da is urging Youngman to file the application as soon as possible. From earlier we have been told that Youngman filed an application more than two months ago, but that application now probably needs to be rewritten.
Regarding distribution and sale of Saab cars in China, Pang Da has bought around 2,000 Saab cars which is a mix of Saab 9-3, Saab 9-5 and Saab 9-4X to be imported to China from October this year. Pang Da will open 20 self-operated dealerships.