Saab plans three new models after signed agreement

Swedish automaker Saab seems to be finally coming out of trouble after the signing of the final agreements with Pang Da Automobile Trade Co., Ltd. (Pang Da) and Zhejiang Youngman Lotus Automobile Co., Ltd. (Youngman). In fact Saab has already stated that the brand will be adding three new models to its portfolio with the help of Youngman.

Forming NPJV – a Sweden-based joint venture company 50% owned by Saab Automobile and 50% Youngman – the two brands will be focusing on the development of three completely new Saab vehicles: the Saab '9-1', Saab '9-6' and Saab '9-7'.

In this process Saab Automobile will be responsible for controlling and managing the design, the development and testing process to the start of production and providing other necessary technical and quality control support.

Youngman on its side will be responsible for providing the necessary financial investments in the joint venture.

Victor Muller, CEO of SWAN and Saab Automobile said: "I am pleased to announce the signing of binding agreements (subject to obtaining regulatory approvals) with Pang Da and Youngman, as it underlines the confidence of all parties in a successful tripartite partnership. Establishing the New Product Joint Venture is a major step for both Saab Automobile and Youngman Passenger Car and marks the start of an exciting new partnership.”

Mr. Pang Qingnian, CEO of Youngman, added: “The agreement on the New Product Joint Venture brings together the best of both worlds, merging the industrial and financial strength of Youngman Passenger Car with the state-of-the-art technical expertise of Saab Automobile. The Saab '9-6X' and Saab '9-7' will be key to enhancing the prestige of the Saab brand to an even larger group of customers in China and the US, while the entry level Saab '9-1' will appeal to urban motorists around the globe.”

Pang Da will be the door-opener for Saab in China, the fastest growing automotive market in the world, which will be determinant in the future of the brand.

Hard times seem to have ended for Saab, let’s wait and see what the future holds for the Swedish brand.