Youngman, the Chinese investor that had intended to invest in the Saab (which has since gone bankrupt), has bought Phoenix vehicle architecture -- the brand’s most valuable intellectual property. This is the platform that Saab had hoped to install on the next-generation 9-3.
When interviewed by Automotive News China, Youngman’s spokeswoman Rachel Pang said that it has started some of the steps required to establish a company in Sweden for the development of new cars that will use the Phoenix platform.
The Phoenix platform will be used to underpin Saab’s next premium compact 9-3 sedan but other than that, very little is known. The platform doesn’t have relationship to previous General Motors-based designs. The public first saw the Phoenix platform during a similarly-named show car Saab displayed at the Geneva Motor Show last year.
Youngman wanted to participate in the development of new Saab vehicles that would be built on this platform. However, the Chinese company was prevented by GM, which owned Saab until 2009, from entering any agreement that would allow it to access GM’s platforms.
GM had kept enough preferred shares to still make it have the right to veto any investment. But it’s still uncertain if Youngman can get the rights to the Saab name. It’s also not known yet what the badging will be and where its factory would be located.