The disbanding of Saab Automobile is continuing to take place. The automaker’s former parents, Swedish Automobile N.V., have now entered into discussions with Chinese manufacture Zhejiang Youngman Lotus Automobile Co. Ltd. (Youngman). For months, Youngman and Pang Da, the other Chinese group interested in Saab, have been working to get approval from the Chinese government in order to take custody of the car maker. The recent move was made so that a short-term solution could be had in order to pay Saab’s blue-collar wages for the month of November. Also included in the discussions are ways to keep the voluntary reorganization process alive.
Even though this is a step in the right direction, Saab is still uneasy of their future. According to their official press release, “The outcome of the discussions is still uncertain.” This is partly to do with the invested stockholders of both Saab and Swedish Automobile N.V. “Any possible transaction would be subject to the approval of the relevant stakeholders.” Despite the somewhat sketchy future, Saab can once again relieve some tension for now.
Source: Saab
