Youngman and Pangda submit case for Saab to NDRC

Industry News | | July 28, 2011 at 6:25 pm

Saab and Pangda have finally come forth with a plan to save Saab from the history books, 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.

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.

 

ash 010 web avatar Youngman and Pangda submit case for Saab to NDRC

Ash

Ash came to China at 18 on a whim and never left. Some 10 years later he collected a degree and a family along the way and now focuses his time on watching the Chinese car industry develop. He has witnessed the market change from being minor backyard market in to the world's biggest and most important market for all car manufacturers. You can contact or connect with him via Linkedin by clicking the 'Website' link.

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1 Comment so far, why not add your thoughts as well?

  1. avatar santos palisander says:
    July 29, 2011 at 5:12 am

    If this is approved, it would likely be with Youngman in complete ownership of both Saab and 77% of the JV for Chinese production. With no funds, all Saab can offer is intellectual property rights. Will the NDRC allow this much financial creativity on the part of Youngman when they did not initially request to purchase Saab outright? All along they have seemed favorable to Youngman, but this could end up going far beyond the original plan.

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