TTELA: Youngman sent first 100 million crowns

Good news finally, not only will the October wages be paid, but that an agreement for technology sharing with Youngman has been reached. According to TTELA, the money will hold Saab over until November when the rest is due. Read the translation after the break.

Chinese Youngman is on Wednesday has paid about 100 million to Saab Automobile. That said newspaper Dagens Industri, DI, late that evening. Thus, wages for October is paid to the employees. Related Payment shall be made on Wednesday and is a small part of the 640 million Chinese people who would put up with the bridge financing in anticipation of the total investment of 2.2 billion together with Pang Da. The safety of money is a license to Saab’s new base of the 9-3 model [Phoenix platform I think]. Youngman may now take advantage of a defined part of the technology, writes DI. The 100 million is welcome when the government wage guarantee expires on October 21. The money will be enough until the Chinese authorities are ready to trial in November.

Also according to TT via DI:

DI also say that there is now a new plan to save Saab, according to TT, and that Victor Muller – Saab CEO – during the meetings that took place in Stockholm made it clear to the Chinese that Saab does not need 640 million, but well 100 million to pay salaries. “We met with Pang Da and Youngman as late as on Tuesday and everything is proceeding according to plan. The cooperation continues and there is no problem with it. Gunilla Gustavs noted.
bk-aero
Member
4 years 11 months ago

Thank God.

Kimberly
Member
4 years 11 months ago
+1 and not just for selfish reasons (i.e., my wanting to buy the 9-3 replacement as an upgrade from my current 9-3 if it proves to be a serious performance sedan) but I am happy for the SAAB employees who have been very patiently awaiting a resolution to the ongoing drama. BUT: i am hoping that it’s not yet another premature of negotiations which haven’t been finalized. I’d love to see official press releases from all parties involved – not only will it put an end to the hack journalists who are continually making sh|t up, (which hurts SAAB and… Read more »
oxblod89
Member
4 years 11 months ago

+1 My thoughts exactly!

katar1na
Member
4 years 11 months ago

(); )
Yepp!

davidzgy
Member
4 years 11 months ago

Good news finally~proud to be a Chinese for now lol~

ryanonsrc
Member
4 years 11 months ago

Ok everyone, on the count of three let’s have a collective sigh of relief ….
1, 2, 3

Now, I recommend throwing two bottles of Champagne in the fridge. One for when the NDRC approves the deal and a second one for when production restarts. Make sure the later one is of the top-shelf variety 😉

ANA
Member
4 years 11 months ago

A couple of facts make me nervous:

1) There has been no official announcement of the deal (yet)
2) Youngman obviously went back on its earlier deal to send a larger sum (why?)
3) We don’t know what Saab had to promise in order to get hold of this cash (I hope they aren’t selling the family silver for very little return)

I would like to wait until we see an official communication before I get too excited.

Khrisdk
Member
4 years 11 months ago

Don’t think there is any reason to be nervous just yet.

I would like to see the communication too but this is where we are now
Let’s see
There is some sort of explanation of the reduced sum in the post itself.
For further explanation we can only wait

ANA
Member
4 years 11 months ago

I have read the article. I am still nervous and I await proper clarification.

Pedro
Member
4 years 11 months ago

The only thing that would require clarification, IMHO, is the “DI also say that there is now a new plan to save Saab” part. This “there’s a new plan to save SAAB” thing has been so overtalked over past months that it now looks like a MS-Excel spreadsheet, i.e., Plan A, (…), Plan Z, and then Plan AA, Plan AB, and so on…

As for your concerns about selling the family silver for pennies, the minute SAAB stopped producing cars it got itself into exactly that situation. Priority is and should be one and one only: to salvage the company.

larssverre
Member
4 years 11 months ago

Yes….

Peter Gilbert
Member
4 years 11 months ago

We just had a posting about the SAAB/Volvo meet in Belgium. Well this is what I remember from school when we had a meaningful education. How befitting, enjoy.

“How They Brought the Good News from Ghent to Aix”

http://www.bartleby.com/246/644.html

nichell
Guest
4 years 11 months ago

+1
..oh yeah, I remember ‘how they brought the good news from Ghent to Aix’ by Robert Browning. We learnt that in high school. Great!

saabsideways
Member
4 years 11 months ago

Great, now get building the 9-5 SW, I want one.

peeceepeh
Member
4 years 11 months ago

So now we can ask all the definite naysayers to step forward.

spacy
Guest
4 years 11 months ago

.
A very Large box of Kleenex please…….the fat lady is starting to Cry……..

Mark
Member
4 years 11 months ago

Hopefully the Fat Lady will be heading over to someone else’s venue!

zippy
Member
4 years 11 months ago

SweGov maybe? 😉

Mark
Member
4 years 11 months ago

Swedish Government maybe? I hear she has an open booking at GM. Her last performance had to be postponed.

katar1na
Member
4 years 11 months ago

So – she hasn´t got a nervous breakdown yet?! 😉

BoeBoe
Member
4 years 11 months ago

According to TTELA? The source of this news is DI. But I guess it is too difficult for you guys to be positive towards them or give them some credit for bringing this news.

TTELA is so decent to name DI as the original source of this story, why can’t you guys do the same?
This is so obvious a DI scoop. So bad you don’t want to admit.

Jeff
Member
4 years 11 months ago
DI is wonderful. DI is the best newspaper in the world. DI is completely responsible for this story. It is all DI’s. Wait a minute…DI quoted TT news agency, which TTELA is a part of, which is where we originally sourced and translated the article from. Now I’m confused. Ugh, BoeBoe. Get over it. Seriously, I don’t care where the news came from, we read the story at TTELA. They credit DI, who then gives credit to TT. It’s not like we removed the part that gives credit to DI, it’s the second sentence of the quote. I certainly have… Read more »
BoeBoe
Member
4 years 11 months ago

TT gives credit to DI, just like TTELA does. They both write: according to DI.

I’m not saying that DI is the best, most reliable or whatever. I only find it very funny that when DI writes something that is not completely correct or positive about Saab they are laughed at and called liars. But when they have something positive about Saab they are immediately ‘ok’.

Jeff
Member
4 years 11 months ago
DI is guilty of painting Saab with a broad inaccurate brush, surely. If you want to go through and analyze every article they publish and then research whether or not their expert or unidentified sources’ stories panned out, you’d see just how speculative they are. When they have a concrete piece of info that we know to be based in reality, we’re happy to post it. DI isn’t a singular entity, it’s a collection of writers. Some are better than others. I’m sorry to the good ones who work there who get painted with our own broad brush. One comment… Read more »
saabyurk
Member
4 years 11 months ago

+1 on the DI translate issue. Very annoying and it keeps me away many times.

spacy
Guest
4 years 11 months ago

.
BoeBoe

Look mate, that’s the way it should be. Get it wrong & you get slated, Get it right & you get a pat on the back……..So??.

enor
Member
4 years 11 months ago
BoeBoe: DI is a “businessman’s newspaper”, so it is very biased from a “corporate economics” type of standpoint. TTELA, on the other hand, is your typical local rag; most of the writers there are “half a step above amateurs” level and most of the paper is rubbish. I live in Trollhättan so I subscribe to TTELA for “local gossip” reasons, but most of the time I sincerely wonder why I bother paying money for it. What do I want to say with this? Well, both papers suck; albeit in different ways. Therefore, when they both agree on something it’s fairly… Read more »
Khrisdk
Member
4 years 11 months ago

Is that your only comment?

JasonPowell
Member
4 years 11 months ago

Really, come on BoeBoe. Till obviously found this post from TTELA and posted it, does it matter that much to you who originally posted what? I guess it does. It doesn’t matter to most though.

Tripod
Member
4 years 11 months ago

You must be desperate, if you are going to comment and that’s your only comment, what’s at the beginning of a headline, placeholder, or a link. As Jeff said they are mentioned at several places.

Nate 9-3
Member
4 years 11 months ago

BoeBoe

I have often wondered if you were a cynic to the worst degree. However, your information has almost alaways been spot on, even if it is not positive news. But after this comment I am convinced that you truly are a cynic, no matter how accurate your information is.

Lay of the SU crew.

welshwizard645
Member
4 years 11 months ago

yup start building my next car….. I only want a Saab 2.0T 220PS

Johnnydel
Member
4 years 11 months ago

Send the fat lady back into her dressing room.

EuroDriver
Member
4 years 11 months ago

Awesome news!

Greg Abbott
Member
4 years 11 months ago

Excellent news indeed. I’ll wait for the production restart to break out the champagne, but this is an welcome step back from the brink.

spacy
Guest
4 years 11 months ago

.
brink = Hell is only a journey to the other side

100%Saab
Member
4 years 11 months ago

Agreed.

No 9
Member
4 years 11 months ago

+1

slant4
Member
4 years 11 months ago

Brill!! I will hang out until 2013 so I can have a 9-3 opposed to driving a c 30 peice of s**t it is whe worst car on earth!

Mailr
Member
4 years 11 months ago

If DI is correct (and that is a real if), this is highly unlikely to fail. As Youngman would have been very stupid to put in any money if they didn’t expect a ROI. Which also mean that Youngman most likely have very good reason to believe that NRDC will approve the deal. I very much doubt that NRDC was unaware of this deal in advance.

paddan
Member
4 years 11 months ago

I predict this is the beginning of the end. Of bad news, that is. Well done to all parties.

aki
Member
4 years 11 months ago

whew! This is really good news. This can only get better. Cheers everybody.

Peter, Sweden
Member
4 years 11 months ago

Great news to wake up to! Now off to have yet another talk with all those nay-sayers at work ^_^

RS
Member
4 years 11 months ago

You can tell them how ‘wonderful’ the C30 is and that you’re looking forward to the new VW (whatever) 😉

Peter, Sweden
Member
4 years 11 months ago

LOL, absolutely 😀 Not to forget the truly awesome Toyota that is standing next to my 9-3 every day: “Today is the day when I truly noticed the beauty of that japanese brand”.

Chris Hansel
Member
4 years 11 months ago

The Moose says, “Watch me put another rabbit out of my hat”
” Oh, that’s old trick nevers works,” replied Rocky.
Well poor Rocky was wrong, as he is eternally.

mo
Member
4 years 11 months ago

now i hope this gives saab some breathing room!

SaabSouth
Member
4 years 11 months ago

Got to be good news Chinese don’t like losing money , so they must be pretty confident of getting it back!

moose
Member
4 years 11 months ago

The safety of money is a license to Saab’s new base of the 9-3 model [Phoenix platform I think]

ANA
Member
4 years 11 months ago

SaabSouth
As you say the Chinese don’t like losing money. We don’t know the structure of this deal – I wonder what Saab had to give in return for this reduced sum – not too much I hope.

moose
Member
4 years 11 months ago

Baby steps … 10m€ (potentially) received, 990m€ still missing.

Red J
Member
4 years 11 months ago

Baby steps … 10m€ (potentially) received, 990m€ still missing.

TurboLover
Member
4 years 11 months ago

Yongman put the fat lady on a diet!

Khrisdk
Member
4 years 11 months ago

For those about to rock and FWIW

Small steps is how you start a journey not how you finish it.
Now:

Is your Cup half empty or half-full?
We have a TV show here in DK that tries to pessimists get over it.
It’s only a small matter of attitude.

My own company will probably be bankrupt by January. But we are still working on plan G

900 classic cab
Guest
4 years 11 months ago

Now this is how every morning should start. With good news 🙂

hans h
Member
4 years 11 months ago

Now I feel good.

I’ll check Teknikens Värld, Automotorsport.se and NyTeknik to see if there are any naysayers around. 🙂

peeceepeh
Member
4 years 11 months ago
That’s very good news, indeed. Personally, I don’t really care what SAAB had to give in return. Because if The Money hadn’t arrived, SAAB would be in deep trouble. Reorgansiation would (very likely) be ended, bankruptcy matters would be overwhelming. With SAAB being bankrupt, nobody would build the NG 9-3/Phoenix, I’m quite sure about this (not-invented-here type argument; why would the engineers of a car company buy something that will prove to be better as their own constrution.) So, every single day SAAB stays alive does matter. Let’s hope that they will be able to sort out the remaining matters,… Read more »
Vector-SS
Member
4 years 11 months ago

Fantastic news, , let’s keep it rolling Saab!

bradt00
Member
4 years 11 months ago

Gerrit,you mean the bad economy of the last 3 years!!!

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