The last time the automotive industry heard from Zhejiang Youngman Lotus Automobile (Youngman), the Chinese automaker said that they would be withdrawing from the fight for Saab Automobile. A few weeks have passed, other companies have banded together to try to purchase the defunct Swedish brand and Saab is still left parentless and bankrupt. Despite numerous attempts to buy out Saab, Youngman’s offers have either been turned down or not strong enough for the company to restart production but that might soon change. Perhaps due to strong regret, the Chinese outfit is going after the Swedish legacy one more time.
According to an Autoblog article, the most recent bid by Youngman is for $552 million; greater than the last one of $492 million. So far, this is might just be the largest offer made public but that doesn’t mean it is set-in-stone. Youngman may have a long history with going after Saab, but they’re not the only major name in the fight. The most recent bidder is the joint venture of National Modern Energy Holdings Ltd. and Sun Investment, also known as National Electric Vehicle Sweden AB. Other companies such as India’s Mahindra & Mahindra and even Geely/Volvo have expressed interest in Saab and nothing official regarding anything otherwise has been revealed.