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Saab’s road to ruin was a long drawn out affair, the company was spun off by GM who were looking to downsize in 2008 and the company managed to stay afloat until mid 2011 by selling off IPR to companies such as Beijing Auto whom recieved the rights to the last generation Saab 9-3 and Saab 9-5 as well as the gearbox and engines to both. Eventually Saab…Read More →
Beijing Auto’s B40 SUV has been spotted out many times, it was initially expected to launch towards the end of 2011 but was effectively delayed until the the launch of the company’s own Shen Bao brand late last month at the Guangzhou Auto Show. Shen Bao will be housing an entirely new range of vehicles all of which are thought to be launching within…Read More →
Saab maybe an entry in the automotive history book but the brand sort of lives on in Beijing, when Beijing Auto bought the rights to the last generation 93 and 95 as well as the engines.
Although the C70G is based on Saab architecture it looks nothing like a Saab, its side has more of a BMW Bangle wrinkle…Read More →
Dongfeng Auto announced today that it has bought a 70% share in the Swedish engineering firm, T Engineering AB. T Engineering was a spin off from Saab Automobile Powertrain and focuses on developing powertrains for the automotive world.
The original agreement was signed on December 8th 2011 and will see Dongfeng buy 70% of the company in stage one…Read More →
Youngman and Spyker, once famed for their attempted take over of Saab, have returned to the negotiating table and announced the formation of a new joint venture. In 2011 Youngman received the rights to the Phoenix platform as part of its aborted take over of Saab, the new platform was apparently developed independently of GM and as such Youngman were…Read More →
This is the question that everyone is asking this week. The answer is quite simple:
If Saab’s future is electric, it’s likely best that it doesn’t come to China. Imported hybrid and EV vehicles do not gain the subsidies or preferential treatment at the consumer level that locally made vehicles receive. Furthermore, the market…Read More →
Youngman officially gave up on Saab yesterday after it was finally forced home that GM wouldn’t be sharing any of its tech with Chinese companies outside of its close joint venture partners. Mahindra and Mahindra appear to be in the running to pick up the pieces of the failed Swedish company, with Ssangyong under its wing as well as the left overs of…Read More →
Beijing Auto bought the rights to the decidedly ancient Saab 93 and 95 platforms from Saab in late 2010, whether or not Beijing Auto would have been able to turn them into passable sedans is another matter, a matter that we can safely say is decided.
BAIC are gearing up their C70G, aka the old Saab 95, its official airing at the Beijing Auto Show. Whilst previous spy pictures indicated that BAIC were not doing too much to overhaul the 95 it seems that they have in fact given it a unique identity for 2012 and beyond. The interior shown here for the first time, seems to be much improved over the original…Read More →
Did you think the Saab story would end with Saab’s forced bankruptcy? ItÂ seems the story is on going with a new angle to report on nearly every day, this week it seems that a joint Chinese-Japanese Consortium are interested in talking on the Saab brand and its production capacity. Swedish…Read More →
BAICâ€™s first car, the E-Series hatchback which overly looks like a Mercedes B-Class will hit the market in March according to media reports. Media testing is already underway in Hainan with media being able to test drive the car around the island, initial reports seem to be overly in favor of the car. The second car from Beijing Auto will be…Read More →
So you want a Saab? Tough luck, unless of course you can find a dealership that still has 9-3 and 9-5′s for sale, but then perhaps you can forget the warranty, the good news is that you will be able to pick up a Saab 9-5 based car from Beijing Auto Works in the next 12 months. The C70G has been sighted doing the rounds in China…Read More →
What is a Saab by another name? It’s a BAIC, and what we have here is a BAIC 9-3, although it won’t be called the 9-3 come launch time. Saab sold the last generation 9-3 and 9-5 platform to Beijing Auto Industry Corporation in late 2010 for 195 million USD, along with several different engines and gearboxes. BAIC have started building electric cars…Read More →
Chinese media reports from earlier this week indicate that Saab’s wares are still up for grabs and Youngman is leading the chase. Why does Youngman still want to have a part in this charade? Because Youngman’s original partner signed up with Hawtai,…Read More →
Although Saab is officially out of business, a Swedish delegation is reportedly in China visiting Youngman according to reports from both of the Swedish Daily and also China Daily, the Swedish government is obviously eager to sell off any outstanding parts of the Saab automobile company and Youngman is still appears to be in the lead.
From China…Read More →
BAIC’s C70, a Saab 9-3 based vehicle, has been spotted out testing ahead of its initial production run this month in Hubei province. BAIC bought teh rights to the 9-3 and 9-5 platforms in late 2010 for 195 million USD for use within its own line up. BAIC plan to build 20 new platforms for its own new Beijing branded vehicles under its own 12th five…Read More →
With Saab’s demise into bankruptcy being confirmed in the week before Christmas the automotive vultures have started to emerge, as with MG-Rover’s death in 2005 multiple parties have emerged expressing an interest in buying the remaining assets of the stricken company. Youngman are expected to receive the lions share, but an outsider – Dongfeng Auto…Read More →
Saab’s life as a car maker was finally extinguished on Monday afternoon in a Swedish courtroom where the judge presiding over the case removed bankruptcy protection for the Swedish car maker which ended with Saab’s creditors forcing the company into bankruptcy. Saab is likely to be liquidated in early 2012 with the majority of its assets that do not…Read More →
Pangda’s problem: ‘The bride to be married, the groom is not me.‘
According to the report of December 4th of Reuters, Saab Automobile will be jointly held by a Chinese bank (not Bank of China) and Youngman Automobile, with holding shares less than 50%. Saabâ€™s new ownership structure is that the Swedish car company SWAN…Read More →
Yesterday we reported on Bank of China’s involvement in the ongoing Saab-saga, but it seems that the banks name was lost in translation and rather than being the Bank of China it is just an anonymous ‘Chinese Bank’ which could be anything from the smallest local city bank to a national level bank, the banks entry into the agreement was apparently to…Read More →
Stuck in an impasse, the takeover of Saab by Pangda and Youngman lotus might usher in a new turn.
Recently, a source close to Pang Da Group was quoted by the First Financial Daily, regarding the acquisition of Saab, Saab Automobile restructuring officer Guy Lofalk went to Detroit for a face to face talk with General Motors. The reporter was informed,…Read More →
From Market Watch:
General Motors Co. GM -0.47% said Wednesday it remains skeptical about a Chinese rescue plan for Saab Automobile even as one potential Chinese investor said taking control of the troubled Swedish car maker isn’t its main goal.
GM, which owns the technology on which several Saab models are based, doesn’t believe that…Read More →
Does anyone still remember Saab? The ailing company seems to swing from disaster to disaster as fast as Tarzan can swing from vine to vine, as soon as newsreaders say the words “Saab” viewers at home can fill in the blanks with “… in the proverbial again” before the newsreader has finished his or her sentence. Saab spent the majority…Read More →
The Swedish court dealing with Saab restructuring announced the investment plan of the concerned Chinese investors on October 31, which shows that Pangda Automobile Trade Co and Zhejiang Youngman Lotus Automobile Co will acquire 100% stake in Saab for 100 million euros, and the successive investment will be as high as 600 million euros. The acquisition…Read More →
It seems that Saab is now a Chinese company along with Volvo. Pangda and Youngman have taken over Saab in its entirety and it will become part of the Pangda-Youngman empire. The two companies are set to spend 100 million Euro on the company, which of course has to receive approval from the National Development and Reform Council (NDRC) before any more…Read More →
Beijing Auto’s development of their Saab based vehicles has been a long drawn out affair, if we look back to 2005 when MG-Rover went bankrupt and its IPR subsequently sold on to SAIC, Roewe was born just a year later on the back of the Rover 75. Now if we look back to Saab’s IPR clear out to Beijing Auto in June 2009, you can see we’ve patiently waited…Read More →
The longer Saab waits for its long promised investment money from its Chinese partners the closer it gets to closing the doors, but the rumor does not wait, last week it was rumored that Geely were interested in taking on the Saab-story, but it seems that Geely are quite happy with just the one Swedish brand:
Geely Automobile Holdings Ltd….Read More →
Chinese carmaker Zhejiang Youngman Lotus Automobile said it was getting positive signs from authorities in Beijing about its plans to invest in cash-strapped Saab, a Swedish daily reported on Saturday.
Youngman and Chinese car company Pangda Automobile Trade Co Ltd (601258.SS) are seeking approval from China’s authorities…Read More →
Beijing Auto aired the C71 concept at the Beijing Auto Show over a year ago, but they do not seem any closer to putting the car into production, until now of course. The C71 was put on show to highlight what Beijing Auto could potentially do to the Saab 95 platform that they bought from Saab when they were having their last bankruptcy fire sale, the…Read More →
After losing their grip on the opportunity of working with Saab, Hawtai have lost no ground in chasing new partners, Hawtai are reportedly working with the Malaysian auto company Proton.
According to inside sources the two companies maybe pairing up to take on the Indonesian market and have had multiple high level meetings at Hawtaiâ€™s new…Read More →
Although Saab is at a critical point between life and death, Youngman is still optimistic about its future and has put forward a 2012+ product plan for the ailing Swedish company.
Huang Zhiqiang, vice president of Zhejiang Youngman Passenger Car Group, said that the first thing Youngman will do after completing the Saab acquisition is to expand Saabâ€™s…Read More →
If Saab canâ€™t find an investor to pay its employees in two weeks, it will be forced to start liquidation process. Then its deals with Pangda and Youngman will become invalid completely, but due to restrictive policies by the Chinese government, the two Chinese companies are not allowed to make more investment to save Saab at the moment.
According…Read More →
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…Read More →
Saab maybe shuttered for July and possibly August, but that has not stopped plans moving ahead for the production of Saab’s in the Chinese market, thanks to a life saving investment from Chinese partners Youngman and Pangda, the trio are planning to pin Saab’s survival on the red hot Chinese market. The Swedish-Chinese love triangle is working hard…Read More →
Saab still remains shuttered due to national holidays in Sweden and is still looking to remain shuttered throughout August when the car company should be back to making cars but that does not seem to have deterred Pangda from handling Saab’s…Read More →