Youngman in Trollhättan on Wednesday
December 21, 2011 in News
Youngman and the CEO Rachel Pang has not given up hope on Saab. This is confirmed by Johan Nylén, lawyer at the firm Baker McKenzie in Stockholm who are representing Youngman.
- They will arrive in Sweden wednesday to meet with the administrators. The management for the company are very disappointed with GM’s decision this weekend, but they are very interested in finding a solution. De will try to act fast. They are interested in Saab’s development, Saab Powertrain and the Phoenix technology. In reality they are interested in trying to save as much as possible of the current operations in Trollhättan.
Johan Nylén describes a layout thats based on trying to avoid the obstacles that could be put in place by GM. The hope is to be able to build todays version of the 9-3, which is not an obstacle with GM and then use the Phoenix technology in coming generations or cars.
- The time frame for a new model is about 2 years, its a question of a transition period.
In interviews with chinese media yesterday, after the bankruptcy was a fact, Rachel Pang said that there was a great asset in the Phoenix technology.
Rachel Pang also talks about the swedish development company Swedish Saab Automobile Development. The impression is that the youngman-ceo gives is that youngman would partly have rights to some of the technology developed for the next generation Saab-cars.
This will surly be an issue for negotiation since all Saab’s assets are now part of the bankruptcy package?
- Yes, Youngman has invested 60 million Euro in Saab and paid for licenses, say Johan Nylén
On the question on what will happen next, Rachel Pang explains to the chinese media that Youngman now wants to move on and set up operations in Sweden and also mentions the range of Saab models which was to be developed with the Phoenix-technology, such as the 9-1, 9-6 and 9-7 on top of the base-models of 9-3 and 9-5.
According to sources to TTELA, several other chinese companies have expressed interest in Saab, who they are we’ll probably know shortly but its probably established chinese car companies.