Saab, Youngman and Pang Da to Sumbit Plan to NDRC within 30 days

This news coming to us from China Car Times, who report that the plan while not public yet will be submitted to China’s National Development and Reform Commission (NDRC) within the next 30 days. The NDRC as you recall oversees all overseas investments totaling over $100 million USD and approves or shoots down plans for major business developments in the Chinese market.

According to CCT, the three way joint venture will be majority controlled by Youngman with 34% and Saab and Pangda each taking 33%, and 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 (leaving room for one outsider, Antonov perhaps?).

While this is light on new news, it gives us a good sense of whether or not Saab is sticking to its timeline for a mid September regulatory approval. With this bit of news, it seems like that is indeed still on track.

Thanks to Silas for the tip! Keep sending links to our email!

Belfast_Saab
Member
5 years 1 month ago

Encouraging….going tobe a long month, much speculation, rumour and mis-reporting. I think we can all just take a back seat and trust VM and Team Saab to ‘do the business’. Good luck to all involved – this is the lifeboat we need in this stormy sea.

Audun
Member
5 years 1 month ago

Saab and their partners will reach the coast, I think.

Belfast_Saab
Member
5 years 1 month ago

I hope the sharks don’t get them first, but with a fair wind……..the rations are getting low however

Audun
Member
5 years 1 month ago

Good to hear that this is on track. 🙂

skwdenyer
Member
5 years 1 month ago

Thanks for the nod. Not sure ‘within 30 days’ for submission and ‘mid September approval’ are necessarily in agreement, however; is the NDRC that fast? On this timescale, they might not get the proposal in before the end of August! But it is good news that something is moving along!

till72
Member
5 years 1 month ago

I’d expect that Youngman knows what they are doing and that they will present a plan that makes it easy for the NDRC to approve. And do not forget that they were the preferred partner. So there is hope and it’s good to see that things are moving.

booza
Member
5 years 1 month ago
Carlo A
Member
5 years 1 month ago

man, what a timing … 15.50 …..

booza
Member
5 years 1 month ago

Just seconds before you… haha

Carlo A
Member
5 years 1 month ago

shame on you 🙂

Carlo A
Member
5 years 1 month ago

look at http://www.ttela.se
the EIB have FINALLY confirmed that Antonov is not allowed in …

Grumpy
Member
5 years 1 month ago

If we are to believe this, then Antonov was left outside already before Spyker showed interest in Saab, let alone applied for any EIB loan.

Very strange, unless I am totally wrong on the timing of course.

Sadim
Member
5 years 1 month ago

I have a vague memory of reading that the according to the contract between Spyker and GM signed last year, Antonov would not be allowed to own part or the whole of SAAB until 2014 at the earliest.

Does this ringa a bell, anybody?

Leeloo
Member
5 years 1 month ago

🙂

v4ever
Guest
5 years 1 month ago
What the hell is going on?? That article would appear to suggest that the EIB loan was only granted on the agreement that Antonov would not be financally involved in the company and we know the loan was granted way back in 2009. So why have both VM & Antonov been saying all this time that Antonov would be Saabs saviour if only he would be allowed in? Both of them must have known that there was no way that Saab could clear the EIB loan in order for that to happen, so why have they kept saying it? And… Read more »
Belfast_Saab
Member
5 years 1 month ago

Gravy everywhere it seems……

Sadim
Member
5 years 1 month ago

I am not going to point a finger at any specific person or agency becasue I think many could be the ones who would be pointed at, but I think it is very poor that the employees have been fed information and hopes that have been quite clearly incorrect.

Undertaker
Member
5 years 1 month ago

An agreement with Chinese NDRC will never happen before Saabs production have started, and where is the money for that?
NDRC is not allowed to make business with companies that’s not ín order.

Belfast_Saab
Member
5 years 1 month ago

I think your name gives a clue as to your life views?.

I actually beieve the Chinese will understand very well that what Saab needs is a confidence boost and that production will not now start at all until they are on board with serious money – the creditors are lining up and the race is on for China to get everything lined up for a takeover before the white vans start turning up and taking assets away (remind you of GM times, eh?)

KaiC
Member
5 years 1 month ago

GOOD LUCK to Saab, Youngman and Pang Da.We are waiting for the good news.

jond
Member
5 years 1 month ago

One thing is now abundantly clear – Saab has no immediate future without the serious involvement of the Chinese. But what if the NDRC scuppers the deal? It might give us something positive to think about in the meantime if we could conceive of a ‘Son of Saab’ company that could arise from the ashes and satisfy the obvious demand from serious enthusiasts, whilst turning a profit for itself.

ivo 71
Member
5 years 1 month ago

And you think any supplier will do business with ‘Son of Saab’ after that?

Ivo

carlo
Member
5 years 1 month ago

It is sad to say but I am under the impression that the Chinese option is the last one before pulling the plug…..Especially after the bad news about VA….

Patrik B
Member
5 years 1 month ago

Ok, this is big news. This confirms that there is a solid interest from the Chinese companies. The good thing is that we are talking about a pretty well defined and short time frame. Within 30 days probably means that they need to finalize the draft and send it in ASAP.

Lets just hope that Saab can finance it’s existence until the NDRC have approved the deal.

FB
Member
5 years 1 month ago

I am not so sure they can finance it´s existence that long. Think about it….on the 25th of August…..new money for the workers must come up from somewhere. I don´t know if any money comes into the company from the 9-4x-sales in the US. Maybe it could help since no cars are leaving the factory in Trollhättan now. This will be difficult…..very difficult….so the chinese will have to hurry up…..I know…negative thoughts most of it……but we have to be realistic too….. 🙂 1½ month is a long time to survive

zippy
Member
5 years 1 month ago

Im keeping everything crossed!! 🙂

Khrisdk
Member
5 years 1 month ago

Ah Welcome back from The Dark Side

Tripod
Member
5 years 1 month ago

😀

zippy
Member
5 years 1 month ago

I just cant envisage a world without Saab.

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