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     Saab Negotiations with Chinese Investors Continue
    Saab Negotiations with Chinese Investors Continue

    The clock is ticking on the Memorandum Of Understanding between Swedish Automobile and the Saab's Chinese investors. Despite the MOU technically runs out today, the three companies are still in the middle of negotiations. Saab reports that the companies continue to work toward a workable solution that would satisfy all the parties involved.

    According to the Automotive News, the parties are still discussing the structure of the takeover deal, and they are continuing the cooperation as if the MOU continues. Under the proposal agreement signed by Swedish Automobile three weeks ago, the Chinese companies Pang Da and Youngman agreed to purchase Saab for $142 million. Meanwhile, the Saab's former owner General Motors Co. objected to the deal because of technology sharing concerns, and announced that it won't license its technology to Saab if the deal proceeds as-written.

    Saab has been operating under creditor protection, yet the protection dries out on November 22, 2011. The Saab's parent must present a proposal to pay off creditors as there are no indications that the courts would hand out an extension. Considering that production at the Saab facilities has been suspended since April 2011 due to lack of funds, the agreement with the Chinese investors, which plan to inject over $700 million in Saab, may be the company's last chance to survive.

    New Models from Saab
    New Models from Saab

    After having a long time of financial troubles, Saab has finally good news to share. The company announced that it has signed legally binding agreements with the Chinese companies Youngman and Pang Da, which will bring Saab a $330 million cash injection. The Swedish automaker has also formed a partnership with Youngman, resulting in a joint venture to produce three brand-new models. Under the deal, Saab will be in charge of the product development, managing and controlling the design and testing processes, as well as providing technical and quality control support. Youngman in its turn will be providing financial investments.

    The Saab's production portfolio will be expanded with the Saab 9-6X and 9-7 models, that will be targeted at the U.S. and Chinese markets, and the 9-1, which is planned to be a global model. Saab provides scanty information about the new vehicles. The 9-1 is planned to be a premium city car; the 9-6X will be the first all-out crossover produced by Saab; and the 9-7 will be a large executive car challenging the Jaguar XJ and the BMW 7-Series. All three models are planned to debut in 2012.

    Saab Establishing All-New PhoeniX Platform
    Saab Establishing All-New PhoeniX Platform

    Introduced at this year’s Geneva Auto Show, the Saab PhoeniX concept has overshadowed the future face of the Swedish brand. According to the recent press-release, Saab have started work on an entirely new PhoeniX concept-based platform, which will underpin their next-generation vehicles starting from the all-new 9-3.

    "The PhoeniX establishes a new reference point for the future of Saab product design," stated Jason Castriota, Saab Automobile's Executive Design Director. "It symbolizes a renaissance of the innovative spirit and passion that drove Saab to build its first car. This design aesthetic will shape and differentiate future models in the Saab portfolio."

    The new versatile platform with the code name PhoeniX marks the end of the current GM Epsilon chassis, that have been used in the Saab 9-3 since 2002. The PhoeniX-based vehicles will be available with unique McPherson struts and five-link rear axle made by the renowned Swedish component supplier ZF. The platform will be flexible enough for the refurbished 9-3 sedan, as well as larger models.