IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Friday, June 24, 2011

Saab in talks with Chinese partners

Saab is now in talks with its Chinese partners to find a solution to the liquidity squeeze. Swedish Radio has tried to get in touch with Youngman's Chairman Pang Qingjan, but did instead reach his daughter who is also part of Youngman's management. She said that they together with PangDa, is now trying to find a solution to Saab liquidity squeeze. Involved in the talks are also Saab's Chairman Victor Muller.

Eric Geers, Executive Director of Communication at Saab, would not comment on the talks with Youngman.

"I can only say that we work with a lot of scenarios for strengthening the liquidity of Saab. One of them is of course the property sale. But we are also working on other fronts."

However, Geers said that he was hopeful that a solution was coming.
When asked if one could hope for a solution during the coming week, Geers said "hopefully, we try of course to find a solution as fast as possible. The employees did not get paid and that is something we need to fix, so that they are paid as quickly as possible."

He did not rule out a solution during the coming week, saying "No, I do not rule out a solution, it does in any cases look good, but we must wait a bit."

When asked where Victor Muller is at present, Geers said that Muller was in the US yesterday, but he did not know exactly where Muller was at present.

Youngman would not say if Muller was present in China or not.