Saab is showing its tenacious spirit more now than ever before, with word of another reworked proposal sliding across the desk. This latest plan, reports Automotive News, has the Bank of China assuming part ownership of Saab. The bank takes the place of Pang Da in a partnership with Youngman, and the hope is General Motors will find this latest arrangement suitable to approve where it had nixed previous proposals.

The previous deal, which had Youngman and Pang Da assuming complete control of Saab caused GM concern enough about its technology winding up with companies that compete directly with GM and SAIC, its partner in China. The Bank of China has a market value that makes it the fourth-largest such institution in the country, and together with Youngman, the pair would own slightly less than 50 percent of Saab. The plan is reportedly in the General's hands, but at this point, the news will be surprising if it passes muster, especially as any deal will still need to be okayed by the Chinese government. Given the string of unsuccesful similar deals that have preceded this one, Saab's prognosis will remain as gloomy as a Bergman film until we hear otherwise.

UPDATE: TheTruthAboutCars.com reports that there's been some confusion about the bank in question – the institution isn't necessarily The Bank of China, it is a bank in China (still unnamed).


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    • 1 Second Ago
  • 18 Comments
      aatbloke1967
      • 3 Years Ago
      All Saab needs is an owner who is willing to revive the true spirit of the company by investing properly in it with new products which will appeal not only in the executive car segment, but also have that degree of somewhat quirky individuality which gave Saab such a solid following back in the 60's and 70's. Reviving the company's rallying heritage would also be a step in the right direction. As long as the company is nurtured properly and not left to wither on the vine, it doesn't matter who owns it as long as this time, it's taken seriously with a passion for the soul of the brand to provide an interesting future, instead of merely providing it with existence. Otherwise, from the products we've seen over the past twenty-odd years, it may as well be consigned to the history books.
        SloopJohnB
        • 3 Years Ago
        @aatbloke1967
        Wrong.O. Saab/GM have significant technology that would be cheaply and unfairly transferred to that great technology sucker-in-the-east China. Of course, there is always the probability that they would be too incompetent to utilize it, but the issue still stands.
          aatbloke1967
          • 3 Years Ago
          @SloopJohnB
          SloopJohn - I'm pretty well-travelled and I'm not American, so I don't see China as the feared "evil empire". GM doesn't own Saab, it has partial ownership of Swedish Auto and their technology supply agreement is with them. The new owners of Saab need to get rid of any involvement in GM altogether, there are plenty of other technology providers. But, I guarantee that if there's plenty of money involved and the investors are secure, GM will be there lining up like Oliver Twist.
      • 3 Years Ago
      [blocked]
        IBx27
        • 3 Years Ago
        With the available super happy bubble cheerful package.
      Autoblogist
      • 3 Years Ago
      You couldn't write a better soap opera than this whole Saab saga. It just keeps going.
      ICantDrive88
      • 3 Years Ago
      This maybe a real "Saab" story! Ayo! I'll be here all wee, don't forget to tip your waitress!
      NathanZ
      • 3 Years Ago
      Saab you are dead.......get use to it.
      Hello Nathaniel
      • 3 Years Ago
      I don't care, just so long as the GREATEST CAR COMPANY EVER STAYS ALIVE!!! Which they will!! You can downvote me, but to me and many others, no company compares to SAAB!!!! The spirit of SAAB will live FOREVER!!!! :D
        IBx27
        • 3 Years Ago
        @Hello Nathaniel
        *downvoted* "You either die a hero, or live long enough to see yourself become the villain."
      hobbesfanmaster
      • 3 Years Ago
      One thing that Autoblog forgot to mention: GM can't turn down Youngman being part of the deal. GM only has the authority to turn down a 20+% stake, while Youngman would only be taking a 19.9% stake. The only reason GM refused Youngman before is that they're a car company. In other words, they shouldn't have a problem with a bank being involved. Furthermore, the Chinese authorities are going to like this deal as well, considering that they get lots of Chinese power in the deal, although Victor Muller/Swan still have the majority. This deal seems like the perfect deal for everyone!
        SloopJohnB
        • 3 Years Ago
        @hobbesfanmaster
        GM canot unring the bell. Once the bank has it they can then transfer it to Youngman.
      • 3 Years Ago
      [blocked]
      SloopJohnB
      • 3 Years Ago
      There can be no deal with China where technology transfer and Saab/GM are concerned. I wonder why GM hasn't applied for a technology transfer license with the Department of Commerce.....
      Jim
      • 3 Years Ago
      I still dream of a 9.3 hatchback. No one did it better. So miss my old one.
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