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

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