Ever since Saab found hope in China for a lifeline, we’ve been combing the Chinese papers for quotes, stories, and other reportable news. Unfortunately, without knowing the language well, we must rely on the limited translations and translation search engines like google that are available. This often results in less than ideal interpretations at best, and downright misleading news at worst. Sadly, over the past few days, what we’ve heard from major Western reporting agencies seems to be the latter. Take these reports with a huge grain of salt. Not to say that they are missing translations alone, sometimes they’re just interpreting phrases or dialogue with a completely different lens devoid of context, and thus completely warping someone’s words. As an example of what comes up when we use google to translate an article from Chinese auto insider website auto.soho.com, try to crack the code and “read the tea leaves” so to speak, after the break.
|Pang first to talk about youth Saab insider: do not take things (information).|
Source: Beijing reference Author: Wang Yi Lin
Made of rubber from the tire business started to sword and advance automobile industry, to insist on the acquisition of endangered Saab Automobile, China Youngman Automobile Group Chairman of the Board, President of Zhejiang Pang young people have all the qualities: dare, daring, confident . Recently, Pang young people for the first time disclosed the acquisition of Saab inside, he said: “The man is to be challenging, not challenging the level of mediocre Yong does not make sense.”
Attention has long been
“Fifty-six years ago, I began to focus on Saab has. “Pang Young told reporters,” I went to Sweden earlier time than Mr. Li. “June 13, Saab Automobile and large groups, young car sign the Memorandum of Understanding memorandum, the total € 245 million related to equity investments and manufacturing joint venture, comprising strategic alliances and marketing company. Although agreement was reached late, but the youth Saab has long been of concern really.
Cooperation Review: Youth Bureau Sabo Pang’s two cars into a logical reconstruction of joint
It is understood that when Saab is also under General Automotive Group, the young people had expressed on the car Saab ‘s interest, however, forced GM has a joint venture project in China, Saab no joint indicators reason, youth and Saab did not to achieve cooperation. 2008 years of financial crisis , Saabmanagement trapped, GM intends to sell, then as the young people who went to Sweden and Pang Saabtalks, but the final GM did not choose young car from China, but the Saab sold to the Dutch sports carmaker Spyker cars. Subsequently, another Chinese car company Beiqi set buy to buy a Saab 9-5 and 9-3platforms, and began plans to develop this platform, BAIC ‘s own brand vehicles. And then the young car, forced to give up again.
Until October 2010, Pang youth in France, the Paris Motor Show encounter Saab car strategy director, then as the Saab was Spyker received, the business situation has not improved sales dismal, and even loans owed suppliers and staff salaries . So from January 2011 onwards, an official with the young car Saab car starts cooperation negotiations. It is reported that negotiations continue until April 30, until the Saab side as the negotiations progress slowly, Chinese demand too much and cause deterioration of the situation in Sweden factory terminated the negotiations, steering touch Huatai Auto, and in just three days after the signing of letter of intent agreement.
It is said that China and Thailand related to the leadership went to the Saab factory in Sweden, saw its operating status after the realized Saab seriousness of the problem, it was decided to stop doing so immediately retreat. But clearly, young car and subsequently joined the large group, do not think so.
I believe Saab potential
“(With Saab ‘s cooperation) bottom my heart, do not take great risks, not sure what I basically do not do it. “Pang says Young. Clearly, the experience with the Huatai Auto “flash marriage flash off”, with suppliers, trade unions and frequent contradictions, though Saab cars deteriorating business situation was not promising, but still confident young Pang, he said : “They say bankruptcy, as I hurry, but I’m stable, I had an idea.”
Pang young stability does manifest: already invested 130 € 00 000 to ease Saab car factory predicament, the youth in the recently passed a car and foreign institutional investors to buy technology in the name, again Saab 7000 cars million euro bridging loan to support, mainly related to Saab ‘s new Phoenix (Phoenix) platform, the engineering models of non-exclusive rights. It is reported that the project received September 19, approved by the Ministry of Commerce of China, 2 in two days, Gothenburg, Sweden, the local court to approve a Saab car and its two subsidiaries of the resources re-apply. So far, Saab pulled back from the brink of bankruptcy, reorganization protection into the stage.
Then cast seventy million: Young Saab cars for 70 million euro investment in place this week
In the smooth entry into the reorganization protection, the Saab is to wait for the instructions of the relevant Chinese government. It is reported that the National Development and Reform Commission in the approval document, the main vehicle for young people involved in content and Saab cars in Sweden for joint R & D projects and the establishment of joint ventures in China, sales companies and other related content. Analysts believe that the Saab automobile accident frequently appears to be out of assets, cash flow difficult to sustain, but it is actually Saab assets, brand and product competitive, therefore, approved the project is not easy, but Pang young people are still confident.
Recently, Swedish media reported that Saab cars for young people are not happy, but intends to seekauspicious collaboration support. The industry believes that Saab after all, not Volvo , even though the cars have the same dream with Mr. Li, Pang optimism of youth, but probably will be classified as blind, andSaab ‘s China trip may also recycled gold misfortune.