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.

Thursday, September 15, 2011

Youngman cool on SEK 8 billion investment

Yesterday Swedish media reported that Youngman and Pang Da would be willing to invest SEK 8 billion in Saab. Now just-auto reports that Youngman's Rachel Pang emphasises that they have made no plans or decisions concerning such an investment.

"We don't have any plans about EUR 800 million. If Saab needs this money to develop new models, that means they have the plan for this money," Rachel Pang told just-auto.

"We will invest EUR 136 million into Saab and in the future, with Saab, Youngman and Pang Da, we will be the shareholders of Saab. We will discuss the business plan and then we will help Saab to get more finance. That could come from banks, from the Chinese joint venture companies," Pang continued.

In addition to the EUR 136 million from Youngman, Pang Da has agreed to invest EUR 109 million.

Also Saab spokeswoman would not say that the Chinese plan to invest SEK 8 billion.

"What Youngman and I believe Pang Da have said is they expect to be investing more money over and above the EUR 245 million," Saab spokeswoman told just-auto.