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!