Youngman is still interested in a deal to save at least some parts of Saab

Article by Christian A., on December 21, 2011

There’s a thin glimmer of hope for Saab as potential investor Zhejiang Youngman Lotus Automobile said that an agreement may still be entered with Saab management at this point but without the technology from General Motors. The news that Saab is bankrupt has made so many people in the media mourn for its passing.

It’s no surprise that the Swedish publications are putting the blame on General Motors, which is Saab's former owner but still holds its technology licenses.

For the past year, the CEO of Swedish Automobile, Victor Muller, has been earnestly looking for the company’s rescuer. After the court declared Saab to be bankrupt last Monday, Youngman said that it’s still interested in a deal to save at least some parts of Saab. GM had blocked Youngman’s attempt to purchase Saab.

In a Reuters’ interview, lawyer Johan Nylen, who acted as Youngman's representative in Sweden, said that what Saab and Youngman discussed may be realized at this stage.

Saab's "Phoenix" platform, which was thought to be the next-generation Saab’s base, is what Youngman is interested in. Saab's CEO said that 10% of the parts of this platform are provided by GM. But according to Nylen, Youngman is prepared to make these parts and so GM won’t be affected. Nylen added that instead, it will be accomplished by working on the parts that GM offers in-house and then it will be “completely decoupled from GM.” [source: Reuters]

Topics: saab

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