CLEPA believes in the New Plan
December 15, 2011 in News
Care of our favorite auto journalist, Simon Warburton from Just Auto, Lars Holmqvist, CEO of European supplier body CLEPA, opened up about the recent developments. He estimates up to €700m (US$910m) could be made available for a production restart if the plan we’ve been covering for a few weeks now can be implemented., if plans by Chinese manufacturer Youngman and an unnamed Chinese investor bear fruit.
“That means [they - Youngman] will provide EUR200m and a financial investor will provide EUR500m – that will be enough to restart and give Saab a chance,” said Holmqvist. “Youngman has already spent a lot of money, if nothing else to protect the investment they have already made.”
He noted that even he was doubtful about Muller’s ability to work this deal out, and was impressed by his tenacity even when faced with enormous personal loss.
“We have been up and down listening to Victor Muller,” he said. “On Friday I was quite pessimistic and on Friday night he [Muller] sent a copy of the statement slip that the money had been sent by Youngman. Then, on Monday, he was pressed by people around him to file for bankruptcy. They were afraid they would be personally personally responsible for debts [remember Larsson stepped down]. But he refused and he was right because the money arrived and he got a respite again. Another rabbit hopped up from the hat – I knew what was going on, but I did not think it was going to be in time.”
CLEPA has a lot on the line, as Holmqvist told Warburton of Just Auto, “If the Court says we don’t believe, then you know what the consequences are for us, we lose a lot of money [€150m]…We will support any attempt to try to restart Saab. We are just waiting for the green light.”
On a side note, there’s a lot more news to cover and we have a lot of articles in the works, it’s been a busy week for all of us, thanks for standing by for our coverage. Please continue to send us articles by email, we appreciate your patience.