BREAKING NEWS: Youngman gives up Saab?
Dagens Industri just reported that Youngman has given up its pursuit for Saab Automobile.
The main reason why the administrators have decided not to let Youngman buy Saab is the big uncertainty regarding the payments, which all originates with the Chinese Government. The great delay in payments due to bureaucracy is also a major factor.
DI say that the electric car consortium from China is the favorite. This probably means the end for SAAB.
They also said that negotiations are somewhat paused with Mahindra. This leaves us with the hybrid/electric car group.
Then WHO will get Saab? BAIC? Because BAIC already quite a few Saab based new model?
And is Youngman after another brand LOTUS now?
And honestly Lotus right now is much better catch then SAAB. They have a number of models to sell, they don’t have license and technology issues with GM or whoever else. The brand is strong, engineering is on the top. Lotus F1 team is also at the top this season. So Youngman is probably negotiating to buy Lotus.
Everyone is hoping for a Mahindra purchase, so am I, but lets not forget:
1) The Chinese-Japanese electric consortium is still in the running, per Just-Auto.
2) Volvo is still around wanting to purchase Saab’s tooling and other tangible assets, sans Saab as a working entity.