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  • Joint venture between Saab, Youngman and Pangda submission to NDRC

    China Car Times reported about new developments between these three companies today. The article states the three way joint venture will be majority controlled by Youngman with 34% and Saab and Pangda each taking 33%. The board of directors will be made of up 5 people with 2 coming from Saab, 1 from Youngman and 1 Pangda representative making it to the table.

    The plan has not yet been made public but will be submitted to the National Development and Reform Commission (NDRC) within the next 30 days. The NDRC is the all powerful body that oversees all major business developments in the Chinese market and all overseas investment exceeding 100 million USD.

    Jeff from Saablog-in blogged about other news where Youngman was mentioned:

    To get out of the grave financial rut in which Saab is now, the Chinese manufacturer Youngman should meet with the executive of Saab this week. Indeed, Youngman is concerned by the resumption of production continually delayed and feared to see Saab disappear. So the manufacturer is considering the injection of additional funds to the credit of Saab to resume quickly the production .

    Source : China News magazine
    While it may seem quiet with news and other information coming out of Trollhattan, many are working hard on the future of the company.
    Comments 2 Comments
    1. Golfhunter's Avatar
      Golfhunter -
      Yes and it seems that the unknown chinese company who paid forthe order of 500 vehicules in June was already Youngman .
    1. Shazam's Avatar
      Shazam -
      Whoa whoa whoa... Saab no longer the majority holder? Yes they've got the most seats (I only count 4, where is the fifth?), but giving up the majority?!?!
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