Gasgoo.com (Shanghai June 15) - Earlier this week, Swedish courts announced that bankrupt manufacturer Saab has been sold to Sino-Japanese company National Electric Vehicle Sweden. The sale reportedly does not include transfer of the Saab name, which requires Saab AB and Scania AB's joint approval.
Over the past year, a slew of companies have been vying to purchase the bankrupt manufacturer. Zhejiang-based manufacturer Youngman Automobile was among them. However, according to reports appearing today, the manufacturer officially confirmed that it has no interest in purchasing the company without acquiring the brand name. Youngman added that it will continue to closely monitor any further developments.
Youngman has engaged in close negotiations with Saab since last January. The manufacturer previously purchased its Phoenix platform technology last year. Saab had invested over 200 million euros ($251.6m) in developing the technology, which was analyzed to be a key component for its entire model lineup at the time. It remains to be seen what Youngman can do with the technology now.
Following news that Saab had been obtained by another company, Youngman Board Chairman Pang Qingnian lamented, "it is somewhat regrettable." However, he confirmed that his company had not lost anything.
