Youngman accepts its failure to acquire Swedish manufacturer Saab [www.cardvd-player.net]

Earlier this week, Swedish courts announced that bankrupt manufacturer Saab continues to be sold to Sino-Japanese company National Electric Vehicle Sweden. The sale reportedly won’t include transfer with the Saab name, which requires Saab AB and Scania AB’s joint approval.Over the past year, a slew of companies are already vying to buy the bankrupt manufacturer. Zhejiang-based manufacturer Youngman Automobile was and this includes. However, as outlined by reports appearing today, the maker officially confirmed so it doesn’t have desire for purchasing the company without acquiring the brand name. Youngman added that it will continue to closely monitor any further developments.Youngman has engaged in close negotiations with Saab since last January. Producer previously purchased its Phoenix platform technology a year ago. Saab had invested over 200 million euros ($251.6m) in developing the technology, that is analyzed becoming a key component because of its entire model lineup right at that moment. It remains to appear what Youngman are able to do while using technology now.Following news that Saab ended up obtained by another company, Youngman Board Chairman Pang Qingnian lamented, “it is somewhat regrettable.” However, he confirmed that his company had not lost anything.

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This entry was posted in Auto Express, Saab and tagged electric vehicle, Saab, Saab AB, Scania AB, Youngman Automobile. Bookmark the permalink.

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