Swedish Automobile N.V, Pang Da Automobile Trade Co., Ltd. (Pang Da) and Zhejiang Youngman Lotus Automobile Co., Ltd. (Youngman), all have really big plans for Saab. Swedish Automobile and Youngman have both signed an agreement to form a joint venture in Sweden to develop three Saab models.
The 50-50 joint venture will develop three ‘completely new’ vehicles including the Saab 9-1, 9-6 and 9-7. As a part of the venture, known as New Product Joint Venture, Saab will design and develop the new vehicles while Youngman will provide financial support.
“Within the development process of these three new vehicle lines, Saab Automobile will be responsible for controlling and managing the design, the development and testing process to the start of production and providing other necessary technical and quality control support,” the statement said.
“This joint venture offers Saab Automobile the opportunity to develop models that were not envisaged nor funded in our original business plan: for instance, we will now be able to develop a small entry level Saab, a car that has long been on the top of our wish list,” said Victor Muller, Saab CEO.
Saab will use existing capabilities from its technical development department in Trollhattan.
– By: Omar Rana