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.

Saturday, November 26, 2011

New deal with Chinese on sale of Saab in the pipeline

After weeks of negotiations after General Motors said no to selling technology to a Saab owned 60 percent by Youngman and 40 percent by Pang Da, a new deal may be in the pipeline.

According to Swedish business news site E24, Dagens Industri today writes that the Chinese vehicle manufacturer Youngman is now willing to take a smaller stake in Saab and let vehicle distributor Pang Da take a larger majority stake. The hope is that this will please General Motors enough to keep supplying Saab with tehnology licenses and the GM built Saab 9-4X. I guess next week will see more details on this new proposal.

Also another word on the Antonov - Saab situation. Dagens Industri reports that the Latvian finance inspection, FCMC, says that it will not go after the EUR 72 million loaned from Antonov to Victor Muller's company Tenaci when Muller's Spyker Cars bought Saab.