Youngman Bids for Saab image

Chinese company Zhejiang Youngman Lotus Automobile is willing to make a fresh bid of several billion Swedish crowns for the Swedish carmaker Saab, which was declared bankrupt in December 2011.

This could happen sooner than expected.
It is rumored that next week we will have the final decision. But there are some drawbacks: the former owner of General Motors does not want Saab’s technology to get to Youngman.

That is why Youngman’s lawyer declared that the company will develop technology that is not controlled by GM. That is why the company will start production with the brand-new 9-3 in about 15 weeks.

Unfortunately, Saab has made an agreement with Semcon SMC.ST. to sell parts of the business. This means that whoever wants to buy Saab, will find himself in the difficulty of being able to produce cars.

“The big danger is that Saab and Semcon have agreed a deal with the receiver over large parts of Saab Automobile that would make it impossible for anyone to buy Saab as a whole.

You don’t know if the brand rights are for sale … if the technology is for sale. There is no information available,” declared an informer.

The conclusion is that the company, who plans to make a bid, has to be prepared to make some heavy investments.