Chinese automaker Zhejiang Youngman Lotus Auto's initial plans to purchase Saab quickly dissolved when General Motors made a point to interfere with every action Spyker-Saab and Youngman tried to make.
Since the buy-out never realized and since Saab has now been sold to National Electric Vehicle Sweden (NEVS), Spyker and Youngman are now looking into the alternative potentials of an alliance.
Under the joint venture, which Youngman will finalize after it has completed its due diligence, the Chinese company will commit to a 25 million euros ($31.3 million) investment, equalling a 75 percent stake of the joint venture. Meanwhile, Spyker will be responsible for putting up the remaining 25 percent in the form of technology behind the Spyker D8 Peking-to-Paris SUV concept, an ultra-luxe $250,000 super-sport utility vehicle.
The joint venture, also known as 'Spyker P2P', will allow the two companies to fast track a Spyker D8 Peking-to-Paris production model as well as provide the necessary resources for the Dutch automaker to meet its intended Spyker D8 manufacturing capacity. Youngman's contributions will be paid in installments based on development and manufacturing goals met. The automakers are looking to launch the Spyker D8 Peking-to-Paris by the end of 2014.
But wait, there's more! Beyond the SUV joint-venture, Zhejiang Youngman Lotus Auto has its eyes on the Saab Phoenix platform as well. In a second joint-venture between the two marques, Youngman will supply the capital necessary to start production of Phoenix platform based vehicles, awarding the Chinese company 80 percent of the venture. Spyker holds the remaining 20 percent.
According to Spyker, a full range of Phoenix-based models will be developed under the joint venture and the vehicles will be positioned about comparable Saab versions that were planned. Interestingly, manufacturing of Phoenix models could take place in both China and Europe, a potentially effective cost-saving decision. Original Phoenix models that might be applied in the joint-venture include an all-new 9-7 flagship sedan, a 9-6X crossover, and a next-generation 9-3 sedan.
In a statement, Zhejiang Youngman Lotus Auto said, "With this Agreement, many of our original intentions with the Saab brand will still take shape and we are excited to help Spyker further develop its vehicle model range with the SSUV and vehicles based on Saab Automobile's Phoenix platform technology, both in China as well as in the rest of the world."
Victor Muller, CEO of Spyker and one of the men most keen to see Saab's technology put to use, reaffirmed Qingnian's comments, stating, "We clearly share the vision on how to shape Spyker's future as partners going forward."
