After withdrawing its original $492 million bid for Saab, Zhejiang Youngman Lotus Automobile has returned to the bidding with a fresh offer of $552 million, according to a report from Bloomberg. Right now, Youngman is bidding for Saab against a group comprised of a Japanese investment firm, Sun Investment and Hong Kong-based National Modern Energy Holdings.

As we told you earlier, the duo of Sun Investment and National Modern Energy Holdings has formed a new company called National Electric Vehicle Sweden, created with the sole purpose of buying up all of Saab's assets.

When approached by Automotive News Europe and Bloomberg, a spokesperson for the bankruptcy administration declined to comment on when a decision would be reached.


I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • 7 Comments
      JonnyO
      • 2 Years Ago
      Braaaaaaaains...
      Westcoastsaab
      • 2 Years Ago
      What's a brand worth? Apparently the name Saab carries value. Imagine all of the new products that come to market and take millions just to get recognition. I believe companies such as Tesla will share just how much of a challenge of building a name is. Throw in a manufacturing facility and just maybe Saab has a fighting chance. I'm rooting for Saab all the way, minus the all electric car for now.
      Ace Convoy
      • 2 Years Ago
      ....Well for one thing, we know Saab's not going away anytime soon...
      Lamborrari
      • 2 Years Ago
      What is there left to buy? There's no dealer network, no international distribution chain, no complete technology (GM took what was theirs and the Phoenix platform is years away), engineers and executives are long working elsewhere now, resale values are in the gutter and brand perception is irreparable. All that's left is an empty factory, empty offices and a brand in tatters. The human element is gone; anyone with half a brain who valued their career left the company ages ago, many poached by Volvo.
      CLASSICBOB
      • 2 Years Ago
      Lamborrari is absolutely right, there’s next to no employees, distribution or dealer network left. Youngman does not have the resources to revive Saab as a global brand, neither does the other consortium bidding on what’s remaining. The only companies that have half a chance of reviving Saab are established automakers. BMW, TATA and FIAT could do it if they wanted to, but with GM keeping a stranglehold on the 9-5 platform, there’s too little of Saab left to make any investment worthwhile. The best thing they could do is give the company away to BMW or FIAT who have the engineers, sales and marketing networks to make it work. i’m sure Sergio can do his magic and turn SAAB around in no time...
      ACSRHS
      • 2 Years Ago
      Youngman is trying really really hard to get Saab, and I would like to hope that's a good thing. I say just give it to them, unless anothee choice ends up being more viable.
      Walt
      • 2 Years Ago
      The GM tech in used in Saab vehicles must be really good for these companies to keep trying to get their hands on it.