[car fanatics]

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February 3, 2012
By: CF staff

Chinese group Zhejiang Youngman Lotus Automobile has made a fresh bid for Saab, Swedish public radio reported, citing sources.

Youngman's offer is worth several billion Swedish crowns, the public broadcaster reported on Thursday.

It said the firm, which had wanted to invest in Saab before the the carmaker went bankrupt, would build cars at Saab's factory in Trollhattan in Sweden under the proposed deal.

Reuters, citing a source with knowledge of the situation, said on Friday that the offer -- valued at 3 billion crowns ($446 million) -- drew a cool response from receivers.

[BasiliskSt]

Receivers may want more than anyone is willing to pay for the high manufacturing costs in Sweden particularly as GM still has a say over technology it transferred to SAAB. This saga is as long as the other great Norse Sagas.