State-owned Chinese automaker Dongfeng Motor Corporation wants to buy the remaining assets of Saab, of which the most important is the Trollhattan plant, according to a report from Chinese media quoted by Automotive News China.
The automaker will bid for the assets after the Swedish car manufacturer will be liquidated in April. Saab’s assets could help Dongfeng achieve its plan to develop passenger vehicles under its own brand, the Beijing Times reported, quoting an unnamed Dongfeng source. Other Chinese firms are interested as well, with one of the two companies that tried to buy Saab last year willing to bid for Saab assets.
Zhejiang Youngman Lotus Automobile Company, the buyer of Saab’s Phoenix architecture, for which it paid €80 million, wants more Saab assets. The battle will be tough, as other companies may be interested, too. The Beijing Times reported that an unnamed Turkish company also wants the assets. India’s Mahindra & Mahindra might bid to acquire some Saab assets as well, Bloomberg reported.
Saab was declared bankrupt on December 19 by a Swedish court after former owner General Motors blocked a bid by Youngman and Pang Da Automobile Trade to acquire the automaker. GM still holds preferential shares in Saab and supplies key parts for Saab models.