According to Svenska Dagbladet, Chinese Youngman revised its bid on the Saab bankruptcy estate last week.
According to reports, the revised bid was made February 14 and the offer should be aorunc SEK 2 billion. Youngman is reported to be ready to increase the bid if the bankruptcy administrators can make a good arguement that the bankruptcy estate is worth more.
Youngman Chairman and founder Pang Qingnian tells SvD that the company is prepared to invest SEK 12 billion in the development of new Saab models. Furthermore that the development and manufacturing of Saabs will still be done in Trollhättan five years from now.
"It is essential," Pang Qingnian told Svenska Dagbladet and said that rich Chinese people prefer to buy cars manufactured in the West.
"We do not have the capacity to develop the cars. And I would like to keep many of the former management," he said and made it clear that it could prove a problem that many former employees now are getting new job.
According to Pang Qingnian, it is the Saab brand, the technology and the safety record of Saab that is the key elements that makes him want to buy Saab.
"We will focus on safety and the advanced technology and build up a network of dealerships. Saab will be our main priority. Today we are using 20 percent of the turnover from the car manufacturing on marketing and sales. That's a benchmark," Qingnian said on how to make Saab successful in China.
"Without the employees it is not possible, so it needs to happen quickly," said Pang.
First order of business should Youngman get Saab, is to finish the Pheonix platform according to Pang. That platform will form the basis for the next Saab 9-3 and then a new 9-4 and 9-5 will be developed. Later a 9-1, 9-6 and 9-7.
Until then Youngman wants to continue producing the current Saab 9-3, with some modifications.
"It [Saab 9-3] is not covered by GM's licenses and we could produce it with a diesel engine and automatic transmission - these are not controlled by GM. BAIC (Beijing Automotive) are entitled to certain technologies, but we have estimated that it will take about three months to replace the body parts. Thereafter it will take another few more months before any production can be started," Pang said and continued:
"We will first utilize the factory in Trollhättan and then we can start production in China."
A blog fueled by enthusiasm about Saab, the greatest car company between the North and the South Pole. And their cars, which probably is the only cars that would start on a cold and crispy South Pole morning.
