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New hope for China-moneySeptember 10, 2011 at 02:00
Updated: September 10, 2011 at 07:56The Chinese car brand Youngman has secretly passed a major obstacle to saving Saab. We get a positive signal from Beijing, says the hopeful Youngman-director Rachel Pang in an interview with SvD Näringsliv.SHANGHAI Rachel Pang said that the company has received approval of the local Reform and Development Commission for Saab affair. Now begins a race against time to even get the central division of the giant Department's approval.
-We will support Saab to get out of this situation, says Pang on the phone while driving from work just before six o'clock on Friday.
Applications for both Youngman and the Chinese cardealer Pang Da. Both want to become a part owner of Saab.
Rachel Pang reveals that they have managed to overcome two of the barriers that stopped them from pumping money into the bleeding Saab. Everything is now about to convince the powerful authority NDRC, National Development and Reform Commission (in English National Development and Reform Commission) that the investment in Saab is necessary.
-Last week we have the approval of the local branch of the NDRC in the city of Hangzhou. This is where Youngman headquarters.
-Next week on Wednesday we hope to get through it at the provincial level, Zhejiang Province.
Pang Da yesterday canceled a planned news conference because of the news that the court denied Saab reconstruction.
-We will find out the real situation of Saab in Sweden and subsequently reported, quoting a spokesman for Pang Da by Chinese evening newspaper Fazhi. The anonymous spokesman also said the court's decision will in part lead to changes in the planned release, but gave no details.
But Saab has the Chinese lunar calendar against him. This weekend celebrates the Chinese Mid-Autumn Festival. Officials will not be back in the office until Tuesday. That's why the decision of the NDRC's provincial office at the earliest can be expected on Wednesday.
Rachel Pang is confident that the provincial level will say yes. All signals have gone in the right direction, according to her.
After the provincial level remains only one last obstacle: the National Development and Reform Commission, NDRC, Beijing. Normally, it takes one month to the provincial level approval sent to Beijing before the statement comes. It is time that Saab does not have. Saab denied reconstruction of Vänersborg on Thursday. Bankruptcy is in the air. But Rachel Pang says they hope to get through the decision in Beijing faster.
-We have ongoing contact with the NDRC in Beijing. We get positive signals from there. I have a good sense of this, says Rachel Pang.
If all instances of super-department says yes it is free-for Youngman and Pang Da to pump money into Saab.
-Because it is so urgent, the report will be sent directly from the provincial level to Beijing. We will do everything possible to speed up the process.
But even if Youngman and the Chinese retail chain Pang Da receive all approvals does not mean that all is peace and harmony for Saab in China.
SvD Business has previously written about how the government Beijing-based automaker BAIC feel that they have the right to technology for the upcoming Saab 9-3. There have been no signals that the state giant BAIC given up the claims.
-I do not know of BAIC's claim, says Rachel Pang.
In addition, cooperation between Pang Da and Youngman described as a "shotgun wedding": a marriage that is forced by the circumstances. Saab Victor Muller presented Pang Da as Catcher in the Rye in May after its cooperation with Hawtai from Inner Mongolia had ruptured. As SvD Näringsliv could reveal May 22 Youngman got the time to block the deal in the NDRC, referring to the previously negotiated with Saab and submitted an application to the NDRC. This meant that Youngman was first tjing at Saab. It may be only one application of NDRC at a time by foreign brands. Super Ministry therefore forced Saab and Pang Da admitting Youngman at the store.
But Rachel Pang do not think it will have no negative impact on future cooperation.
-All three have their strengths. Saab is a great technology. We are a complete Chinese automakers and Pang Da is a strong partner with the nation's largest retail network. We are convinced that it is the best solution.