Di.se: Youngman prepared to buy for 5 billion SEK

Rachel Pang is scheduled to come to Sweden next week with her father the companys chairman Pang Qingnian. Willing to put up 5 billion SEK, and another 5 billon SEK to develop the Phoenix platform/NG 900.
Part of the plan is to start up production of 9-3 in 15 weeks time.
DI claim that Youngman has found a way to work around the GM issues. Some part to the 9-3 can be sourced through non-GM channels.

The printed edition of Di claims that engines and gearboxes are being sourced from other companies instead of GM. Would we guess here diesels from Italy. Gerboxes seams to be more complex, but that is just a challenge for the “coming” owners.

There is also some writing that the 9-3 only will be sold in China. Well there are a couple of thousands of unsold NEW or near new Saabs around the world.

Just lets hope Youngman has takes measures and steps to safeguard the museum as one entity intact.

Interesting days to come. Press conference Saturday in Gรถteborg. Then a Youngman och lawyer meeting next week.

Could this be the fresh new start Saabs so desperately needs? Lets hope for that.

Marino from Belgium
Member
4 years 8 months ago

great !!!!!

m!ko
Member
4 years 8 months ago

This is the time – around 3 weeks – needed to Youngman’s engineers to get 9-3 into single parts and find out, what and how they can replace from GM to other suppliers, good job ๐Ÿ™‚

EuroDriver
Member
4 years 8 months ago

Finally some news! Can anyone tell me if GM can still object to certain terms even during a Bankruptcy?

Sadim
Member
4 years 8 months ago

As long as parts are sourced from other suppliers they cannot stop such an arrangement. GM has lost their stake in SAAB via the bankruptcy.

Thylmuc
Member
4 years 8 months ago

If these suppliers build such parts under a licence from GM, of course GM could stop them from selling them to Saab.

Red J
Member
4 years 8 months ago

Well, there are always lawyers that would try anything for money.

Coke is it
Member
4 years 8 months ago

Sounds great ๐Ÿ™‚ Too bad that the 9-4X and 9-5 wont be produced again. I really wanted that 9-5 SportCombi.

I have one question to GM:

“You said you will do anything that is in the best interest for your shareholders. Why don’t you want to sell components/licenses to Youngman and earn money?”.

ztele
Member
4 years 8 months ago

5 Billion SEK is 562 million Euro. Why would they pay so much when the last offer was 100 million?

tobbe
Member
4 years 8 months ago

Read somewhere that the bid was so high, because they might pay back money to those suppliers that still havent got there money. If the case is so, its a very nice thing to do. =)
Maybe they can save the Museum to…

phermansson
Member
4 years 8 months ago

This is exactly right, if any supplier is going to be able to work for Saab the suppliers debt will need to be settled so that the suppliers in turn can pay their bills and also survive… a lot is depending on this…

xlx
Member
4 years 8 months ago

maybe it isn’t their money and they didn’t had it before … ? (unnamed chinese bank)

Jeff
Member
4 years 8 months ago

GM should have been allowed to go belly up, what a bunch of XXXX EDITED*! And thanks to the American government, I helped pay for that General Mess bailout!

till72
Member
4 years 8 months ago

๐Ÿ™‚

Chris Hansel
Member
4 years 8 months ago

Why don’t you drop it and stop pissing off 1/3 of Saab’s market? If Youngman buys Saab, part of the reason will be the north American dealerships. The game here to survive, if Saab survives, we all win. The last thing you want to do is attending a car club meeting, surrounded by only eighty years olds. Trust me I have been to those meetings, very depressing.

Osama Dajani
Member
4 years 8 months ago

Is 50% or more of SAAB 9-3 parts outsourced from GM?
What are the parts of SAAB that would have to be outsourced from new alternative suppliers to GM?,
For example, would the engine of SAAB 9-3 be outsourced from BMW rather than GM? Would the new engine be Turbo-charged?
What are the tricks that SAAB would follow in the short term?

What would be the overall effect of such acts on the PRODUCT that would be sold after 15 weeks?

Red J
Member
4 years 8 months ago

What are the parts of SAAB that would have to be outsourced from new alternative suppliers to GM?

The radio. ๐Ÿ˜‰
not having to use the GM corporate radio could be e big update for the 9-3 ๐Ÿ˜Ž

TonymacUK
Member
4 years 8 months ago

Knock it off, Chris! I`m only 8 years off 80 and I am not depressing or depressed- cynical, perhaps – but ever the optimist.

Simply9-5
Member
4 years 8 months ago

5 Billion SEK?! That certainly is a good amount of money. I don’t see how an offer like this is ever going to be rejected. I mean it couldn’t be rejected right?

Karl Ask
Member
4 years 8 months ago

I say, RACHEL UP !!!!!!!!

David-SAAB
Member
4 years 8 months ago

All the way!

SAABfansince14
Member
4 years 8 months ago

And they didn’t believe this sooner? They should have bought Saab without GM’s blessing and they would be in the same exact position only without a bankruptcy, loss of brand name. employee’s…etc.
So frustrating, I’ll be back when they’re revived (hopefully).

Procyon
Member
4 years 8 months ago

So will there be Saab cars even after that? What about the museum?

alwaysSaab
Member
4 years 8 months ago

When the dust has settled down, buyers of those Museum Saab cars will donate them back and the Saab Museum will re-open!

kochje
Member
4 years 8 months ago

Let this be true and have conme an end to this unfortunate situation.
We need Saab alive, developping and producing Saab cars.
Come on Rachel; do it !!!!
Saab up

Thylmuc
Member
4 years 8 months ago

If more than a rumor, it again shows how little we know about the stakes of the parties involved. The suppliers demand 170 million. The EIB wants 200 millions back, I presume? That leaves us with 130 millions. What for? Buying back the facilities? Saving the museum? Paying the receivers?

Red J
Member
4 years 8 months ago

130 Million EUR for the receivers???
I think, that for that money I could also do the Job at least as good as the current ones. ๐Ÿ˜‰

Thylmuc
Member
4 years 8 months ago

Without knowing you personally, I believe you ๐Ÿ™‚

Pass me two millions, and I’m gonnne assist you (as a patent attorney)

Red J
Member
4 years 8 months ago

I thought you would do the job for a brand new Saab. You may choose the colour!!!!

saabserb
Member
4 years 8 months ago
I can also join the cheerful crowd here and say Rachel Up!!!! I just have one reflection here: Since the article mentions that SAAB will be over-payed and even cover most of the debts, why didn’t Youngman just proceed with buying SAAB on that Monday the bankruptcy was declared? It would have been much easier to start up with the production, and that way a lot of dialog “A: SAAB doesn’t exist it went bust! B: No, no, you are wrong!” could have been omitted. Maybe they didn’t know that SAAB 9-3 could be produced without GM’s consent, maybe they… Read more »
Martin
Member
4 years 8 months ago

Mayby youngman did not have a clear plan were to get the engines and gearboxes from if not gm, when saab wenยดt into bankruptcy. The are now back and have all the deals on engines and gearboxes lined upp :-).

Go Rachel Go!

David-SAAB
Member
4 years 8 months ago

Sounds likely.

Thylmuc
Member
4 years 8 months ago

And I am also somewhat amazed to see 500 million Euros for the development of the Phoenix, that we had previously been told to be more or less completed. That is a lot of money.

And what about the 15 weeks? Everybody seems to imply that this refers to a restart. But could they also mean to start the new 9-3 within that time frame? A lot of money could speed up up its development?!

Mark
Member
4 years 8 months ago

The 9-4x is just an OEM product that GM manufactures and Saab sells. How continuing that arrangement would be difficult for GM, I fail to see. However the situation with the 9-5 is far more complicated. If GM can’t be flexible it will only loose. But then where Saab is concerned, GM has never shown much intelligence.

alwaysSaab
Member
4 years 8 months ago

Yes, great news. I hope the liquidators will not sc*ew this up again. This may be the only and last life line for Saab. Other bidders, please cooperate and don’t mess up Youngman’s deal.

Niklas G
Member
4 years 8 months ago

Great!
Now also bidders feel the pressure to bid no less than that.

And if the money paid is enough to pay the suppliers, that should be a great start for signing new contracts with the same suppliers.

Perhaps some stickers for the new cars with the proud message “No GM inside!” would become popular? ๐Ÿ™‚

RS
Member
4 years 8 months ago

Maybe they could upgrade the ‘NG’ 9-3’s interior and add eXWD while their at it and in waiting for the PhoeniX 900.
It could sell surprisingly well especially if the diesel would go under the magical 120g CO2.

RS
Member
4 years 8 months ago

That is the 180 hp or even 160 TTiD with eXWD.
I’m aware that the 9-3 diesel hasn’t been available with AWD before but that’s what you have a progressive owner with deep pockets and a bunch of engineers for…

The new 900 cannot be rushed! It’s got to wow the journos immediately and be as reliable as the NG 9-5 ones it comes out. I’d be willing to accept some e-AAM hiccups in a reasonably priced 9-3 Griffin but not in a brand new premium 900.

Eagle63
Member
4 years 8 months ago

I’d like a sticker like that for my 9000 !

Steve
Member
4 years 8 months ago

Hooray!

Phillip paton
Member
4 years 8 months ago

I really hope that this comes off. Youngman have certainly shown commitment with the money they have already invested. The market in China is significant and they will be able to sell a lot of 9-3โ€™s there until the new 900 comes along. I am really looking forward to the new 900 and I’m glad that is will be called a 900 and not a 9-3.

Eagle63
Member
4 years 8 months ago

Me too. Would be nice to be able to trade in a 9000 for an all new 900, skipping the whole GM era…. ๐Ÿ™‚ ๐Ÿ™‚

DUTCH900C
Member
4 years 8 months ago

In real i’m not (Jewis, Christian, Islamic or what ever wise) religious, but i believe in the people and of course SAAB, so:
LET US PRAY for the future of “our brand”!
For everyone by Yongman: Thank you for what you have done and are doing for SAAB, it’s really great and i hope you can let “our brand” live as never before!

DUTCH900C
Member
4 years 8 months ago

Oops, forgot the link i would place with music, so here it is.

http://www.youtube.com/watch?v=XfuBREMXxts&feature=related

hogge
Member
4 years 8 months ago

Griffin up!
EDITED* One sentence was stricken, sorry need to keep this place somewhat nice.

Carma
Member
4 years 8 months ago

I always think of the old Village People song YMCA when I hear the name Youngman..

Youngman, I was once in your shoes.
I said, I was down and out with the blues.
I felt no man cared if I were alive.
I felt the whole world was so jive …

That’s when someone came up to me,
And said, Youngman, take a walk up the street.
It’s a place there called the S.A.A.B.
They can start you back on your way.

It’s fun to be in a S-A-A-B.

Something like that ๐Ÿ™‚

Eagle63
Member
4 years 8 months ago

+1 !

DUTCH900C
Member
4 years 8 months ago

That looks nice!

robertp
Member
4 years 8 months ago
If you look at the figures: Saab didn’t sell the numbers they hoped they would sell in the USA. I think that maybe Saab shouldn’t be active in this market anymore. In the USA people tend to buy a car ‘off stock’, which means that there has to be at least some cars at the dealership for immidiate sell. This means a risk in liquidity: there are a lot of cars not sold that you should produce. A Toyota has a large manufacturing base and higher sales, so that risk is limited. Saab has low sales… In Europe you order… Read more »
900 classic cab
Guest
4 years 8 months ago

So if by any change this deal doesn’t get done, who do you think that is to blame ?
I’m just trying to find how who to put some pressure on ๐Ÿ™‚

Thylmuc
Member
4 years 8 months ago
Regarding the 9-5, maybe Saab could fosus their attention on a single model, i.e. the 9-3 Phoenix, but provide options for different wheel bases (like with the 900CD). 5000 Euro gets you 6 cm length, 10000 Euro gets you 12 cm additional wheel base. And instead of integrating all the good stuff into a higher level 9-5, they could offer it as options to the 9-3. Like an additional sound dampening package. As both the 9-3 and the next 9-5 are to be based on the Phoenix, why not reducing it to a single model? Now, some of you will… Read more »
Daniel G
Member
4 years 8 months ago

I really hope this works out with Youngman. They have always seemed serious and are really interestedI want to buy a new 9-3SC if they start to produce them again. Last time I was in China I was travelling in Youngman busses ๐Ÿ™‚

OveS
Member
4 years 8 months ago

I’m keeping my fingers crossed

Toby K
Member
4 years 8 months ago
This does seem promising but please bare in mind its GM, who have typically been obstructive to any sale-quite what rights they still have to bar a sale independant of their IP I do not know, but I do not expect it to suddenly become an easy ride after the 2 years of wrangling we have seen. but I cannot re-iterate it enough if Saab Survives and builds the PhoeniX/ng9-3/900 whatever you want to call it and they can do it in less than 2 years whilst manintaining a small revenue stream from a re-engineered 9-3-then I beleive they will… Read more »
akis96
Member
4 years 8 months ago
perhaps youngman can strike a deal with gm anyhow and they are allowed to continue to produce the 9-4x, the 9-5 and the 9-5sc. Imho with only one car in the show-room it is going to be very difficult to survive the next few years. In the Austrian Saab Club I know two members who signed up for new Saabs that now haven’t been built. At the dealership where we met last Saturday they have 27 signed contracts for new Saabs. I just hope things work out again. We should continue to put GM under pressure so theyโ€˜ll agree to… Read more »
Rasek
Member
4 years 8 months ago

@Trued – Good point. Yes in 2013 a new Saab 9-3 for my Saab 9-3 Turbo X le. Griffin up!

saaburban
Member
4 years 8 months ago

Saab Will be like minicooper for ร  while, one model one brand.
This is quite interesting. The qwestion is how Saab will build it self up.
I would like to start from the bottom with a small 91 and a sportscar 98 at the top. the new 93 will most likely come in both suv, convertible, sportscombi and hatch. Maybe wait w a 9-5 for a few years until the brand has recovered.

Niklas G
Member
4 years 8 months ago

By the way, tet’s all keep in mind that this is all so far nothing but a rumour. It doesn’t becoume The Truth just because it has been told by an anonymous sourse to di.se. ๐Ÿ™‚

nichell
Guest
4 years 8 months ago

ok, this new deal sounds good. Don’t mean to be cynical(I’m a cynic anyway), but I guess Youngman now has to go before Yang Xi Koping or whoever is the big Government guy and ask for “approval” and then wait for another year for Big Government to say no or yes,.

ninjarider
Member
4 years 8 months ago

The article in the Swedish online paper says that the new 9-3 will be sold in China ONLY. Let’s hope the deal will work and that the car will be sold in other countries as well. For you that can read Swedish:

http://www.e24.se/business/verkstadsindustri/youngman-lagger-miljardbud-pa-saab_3282531.e24

Red J
Member
4 years 8 months ago

The article in the Swedish online paper says that the new 9-3 …..

I can’t find the word new on that article, but still it is only rumours from DI, as they only have one source for that.

Tom Nelson
Member
4 years 8 months ago

Maybe our Big Support SAAB Rally, with 135 Saabs, at Red Rocks Park last Saturday really worked?

Daniel B
Member
4 years 8 months ago

The most important thing is that people will have a work to go to. That development and manufacturing stays in Trollhรคttan and that Saabs still are made.
Sure iยดd love to get my hands on a 9-5 SC or a Phoenix 900 in 2013, but we just have to accept that that may not be possible.
The thing I like the most about this setup is that Saab would be free of GM chains.

ivo 71
Member
4 years 8 months ago
As far as I can make sense of it, the story will have us believe that the 9-3 (the one they plan to resume building within 15 weeks, so it must be the current 9-3) will be fitted with a non-GM powertrain and only sold in China. Given the logistics of the situation, I believe that they must be planning to equip the cars with a Chinese-built or some other cheap engine and gearbox combination (the Lotus powerplants they already have available?) to keep the price as low as possible. The price would have to be the compelling selling point… Read more »
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