Saab News China: Pang Da and Youngman and the NDRC

Saab investors Pang Da and Youngman will hand over to NDRC the plan to acquire Saab over the next three weeks. This was reported yesterday by the China Car Times.

This is not new, as it was the last days in other publications from China. What is new, however, is the text that follows, showing us the problem unadorned.

If it does happen that Saab will have wages and salaries again in two weeks, then the Chinese can not help, the investment is considered failed. Saab would, according to the Chinese view of things, slip into liquidation. Because the hands are tied to the investors, and it is not allowed by the side of the administration to invest more funds. It gets even fatter for us. Pang Quinhua, CEO of Pang Da, said the NDRC audit would probably take two to three months, but could take even longer due to the Saab crisis.

Pang Qingnian, CEO of Youngman, said his company has a very low import quota, so he can not help Saab by buying more vehicles. But he is confident that Saab uses his various financing options to bridge the gap.

If approved by the NDRC, both companies would pay 245 million for just over 50% of Saab shares. Financing the development of three completely new Saab would also be assured.

The schedule sounds extremely bad. Submission of plans to the NDRC in August, decision in November or December. For optimists at the earliest in October. Start of production…. ? Pooh. 🙁

Is the thread from China mutating into a thread now?

Text: tom@saabblog.net

7 thoughts on "Saab News China: Pang Da and Youngman and the NDRC"

  • Yes, I was a bit inaccurate, of course, Land Rover and Jaguar.

    That with Rover was a tragedy and I think in case of bankruptcy that would be an example of what could happen ...

  • I can only agree…;-)

  • Hello Frank Urban!

    In addition to Jaguar, Tata Motors also includes Land-Rover (not to be confused with Rover) - Rover has met the fate that SAAB should be prevented: After the collapse, Rover landed with the Chinese for comparatively little money.

    The model range there is not bad (builds largely on the BMW developments),
    is currently international but rather insignificant (is not exported to my knowledge).

    Greetings from Schleswig-Holstein
    Detlef Rudolf

  • Hello Alexandros,
    I think Bertel Schmitt is (unfortunately) not so wrong. Of course nobody wants to say it. The Chinese are also caring for the people and securing their advantage. However, there are not only Chinese in the world. Even if Saab should go into restructuring, that's not the end. A restructuring process can also have advantages ... 😉

  • Jaguar always goes through my head. The company is tiny with Tata zero synergy effects, has always made a loss under Ford. Now free on its own and free from the famous synagogue Jaguar and Rover play as never before.
    Even the competence of the development department was judged inadequate for the development of new cars. Quite different Saab
    Let's hope that's useful!

  • Herewith the alternative: India.

    There are enough financially strong corporations - long official waiting times (as in China) are not common.

    Just because everyone is traveling to China does not necessarily mean it in the case of SAAB!

    At the time of the Jaguar sale (Tata engines), other Indians - besides Ratan Tata - were also very interested.

    We hope that SAAB does not completely ignore this alternative!

    Greetings from Schleswig-Holstein
    Detlef Rudolf

  • Our “friend” Bertel Schmitt from “The Truth About Cars” mentioned another scenario, which also crossed my mind, but I didn't want to say it: the Chinese just wait until the “thread” breaks. Saab goes into bankruptcy (God forbid!) And the Chinese beat (á la Rover) cheap ...

    B5 Aktuell briefly reported on the situation at Saab this morning. Your conclusion: the American investor is probably our very last chance ...

Comments are closed.