China’s Youngman still trying to salvage Saab as it files for bankruptcy

Posted: Dec 22, 2011
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Saab PhoeniX Concept

As Saab continues its bankruptcy process, Chinese car company Zhejiang Youngman Lotus Automobile is trying to salvage parts of the bankrupt brand. The news comes as Saab owner Swedish Automobile’s CEO Victor Muller says that the year-long strife of trying to save the brand may not be over.

Youngman’s original bid to purchase Saab was blocked by General Motors. The company said that it is still interested in a deal even after Saab declared bankruptcy.

“I feel as if the discussions and plans that took place between the Saab management and Youngman may well be realized even at this stage, but excluding the technology that GM provides,” lawyer Johan Nylen, acting as Youngman’s representative in Sweden, said in an interview with Reuters.

Nylen said that Youngman is interested in the brand’s Phoenix platform, which was supposed to underpin the next-generation of Saab cars.

There may still be some hope Saab fans. Keep your fingers crossed.

- By: Omar Rana

Source: AutoNews


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  • Cad4life

    that all they had 2 do 2 begin with, cut out gm, clearing they must b want some gm tech, so now saab will have no 95/94 until they get the new platform ready, i guess they will get engine from bmw or something, saab owner s_____ up, saab name is ____ now, will see what happen in the coming weeks

  • Anonymous

    Don’t tell me you support post-bailout GM. You must be a communist.

  • Robertboulder

    GM not only ruined Saab,they almost ruined GM,they are useless,like most large American companies,they only care about how much money they can make for themselves and care nothing about the people they employ.

  • Anonymous

    GM aka Communist Obama Motors tries to make a profit by cutting corners making cars less safe and lower quality. Ford, Toyota, etc build QUALITY vehicles that people actually like driving.

    Saab had a right to a second chance with robust Chinese financing much like Volvo. I really will relish the moment when GM collapses again. Their stock is less than half needed to break-even.