Chinese company Youngman has put in a new bid for Saab Automobile. The company is also willing to invest 12 billion kronor on developing new models, founder Pang Qingnian told Swedish newspaper Svenska Dagbladet (SvD) in an interview.
Just one week ago it was reported that Youngman made an offer to purchase Saab Automobile. The revised bid is believed to be worth 2 billion kronor, according to sources to SvD.
One problem is that many Saab employees are leaving the company.
"Without the employees it is not possible, now it has to go fast," says Pang to SvD.
During the interview Pang Qingnian also promised that manufacturing and research would remain in Trollhättan for at least five years.
"Yes, it is a necessity. The upper class in China prefer cars produced and developed in the West. We do not have the capacity to develop the cars. And I would like to retain many of the old executives."
According to Pang, Youngman has been interested in investing in Saab since 2008, long before it was owned by Dutch company Swedish Automobile (formerly Spyker Cars). It made two attempts in 2008 and 2009, but was turned down by Saab's former owner General Motors.
