Chinese company Youngman Automobile Group is expected to launch a bid for what remains of the bankrupt Saab Automobile which includes £473.3 million of future investment for new models.
According to Swedish business newspaper Dagens Industri, Youngman wants Saab’s Phoenix concept architecture (pictured) in order use it as a platform to build its own models. It's unlikely the Saab brand name will be used on these new models.
A person close to Youngman said the deal did not hinge on the cooperation of former Saab parent company General Motors as new Saab models planned "can live without GM".
Youngman is expected to present its offer to Saab next week. The Chinese brand has been heavily involved in the Saab sale saga as it has launched several failed bids to buy the company, as well as helping to keep Saab afloat to cover tax and wage costs.
The Saab GB business went into administration at the end of November last year but a parts business has now been formed from the ashes of the company. A service network of 58 authorised Saab repairers remain in the UK to look after customers.