Report: China’s Youngman group may bid on failed Saab as early as next week

I don’t doubt that many of you who see Saab’s name in any title or headline, are fed up with hearing about the constant struggle to save the brand from being liquidated after declaring bankruptcy in December. Well, sorry to disappoint, but there’s been a recent update that Zhejiang Youngman Lotus Automobile in China is apparently gearing up to make a bid on the failed Swedish car brand.

Just as a quick refresher and to inform those outside of the Saab loop, because General Motors has owned and virtually engineered every Saab for the last two or so decades, the big Detroit make refused to let their technology and engineering get into the hands of the Youngman group. As a result, the aforementioned struggle.

Despite these roadblocks, the Chinese automobile conglomerate apparently still expresses strong interest in the brand, enough to say that they’re ready to bid whenever they get the chance to, which apparently could be as soon as next week.

– By: Chris Chin

Source: AutoNews