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.

Monday, June 13, 2011

Some facts about Youngman

Earlier today it was revealed that Saab has entered into a agreement with Zhejiang Youngman Lotus Automobile Co. Ltd for joint venture distribution and manufacturing of Saab vehicles, as well as a share investment in Saab's parent company Spyker Cars. Below is some facts about the Youngman Automobile Group.

The Youngman Automobile Group was founded by Mr. Pang Qingnian in 1952. The group's headquarter is located in Jinhua in the province Zhejiang in the eastern parts of China. The Youngman group manufactures automobiles, buses and trucks and has manufacturing plants in Jinan, Taian, Lianyungang and Quzhou. Currently the group employs more than 4,000 workers, where 600 are R&D personnel and over 60 are foreign experts.

According to Youngman's website, the CEO and Chairman of the board, Mr. Pang Qingnian, was Party Representative of Zhejiang Province for the 12th Party Congress, which should indicate that Mr. Pang has close political ties.

Youngman has joint ventures with the German companies Neoplan and MAN for the manufacturing of buses and trucks. In addition, Youngman has joint venture for the assembly of Lotus and Europestar (Lotus-designed Proton vehicles) branded cars for the Chinese market and export.

Since 2001, Youngman has been the largest bus manufacturer in China and is exporting to many countries and regions, such as the USA, Europe, Russia, South Korea, Singapore and Middle East.

The manufacturing of trucks in partnership with MAN takes only a marginal position within the Youngman group. The Chinese MAN clients are mainly companies which need special vehicles such as the main customer Daqing Oil Field Company.

Youngman plans to establish itself in the European market with a new plant called European Automobile City, where trucks will be manufactured under the MAN label. So far, this work is still ongoing.