Reliable sources in Sweden are strongly indicating to just-auto a Chinese/Japanese consortium is rapidly moving into pole position to take over Saab, with Youngman’s bid rumoured to have collapsed.
The development follows a rapid escaltion of talk in Stockholm today (23 May). Chinese manufacturer, Youngman has pulled out of the bid with speculation citing difficulties in securing govnernment approval from Beijing.
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Indian manufacturer, Mahindra & Mahindra is also thought be interested in Saab, but has consistently declined to comment to just-auto concerning any bid.
“I was contacted last night by some people who are interested parties and they are talking about… trying to manoeuvre so the consortium could take over Saab rather than Youngman,” Lars Holmqvist, the recently retired former CEO of European automotive supplier body, CLEPA, told just-auto from Sweden.
“As usual there are the conspiracy theories the government is promoting this initiative – something is moving, you don’t know what – from the people very close to this process.”
Holmqvist has only just stepped down from the top job at the immensely powerful European supplier association and still retains a close interest – and contacts – with key players in Brussels and Stockholm but is expressing reservations if the consortium pursues an electric route for Saab.
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By GlobalData“First of all, from a supplier point of view, it won’t give anything – this is a very long shot,” Holmqvist said. “I would much rather see people trying to get Saab going as a manufacturer of cars.
“That would be good for Sweden, good for suppliers and good for [Saab hometown] Trollhattan. It is dragging on, I don’t think the lawyers can take much more time now, it is getting into [an] almost ridiculous situation. You can’t keep the patient much more alive.”
Other reliable sources have previously told just-auto the Swedish government has met the Japanese arm of the consortium that aims to possibly produce an electric 9-3 Saab in Trollhattan.
“For the sake of everybody involved, when you pass into the second half of this year, it [time] will be extremely limited,” said Holmqvist.
“Volvo is quite interested in buying bits and pieces but if you want to sell it, not as a going concern but as a company, you are running out of time.”
Neither Youngman, its lawyers or the Swedish government were immediately available for comment.
