Chinese Youngman almost rescued Saab

Salvation automaker Saab is in full swing: the Chinese company Zhejiang Youngman Lotus Automobile Co has allocated a portion of the funds that will help Swedish companies to stay afloat. The funds are part of a total amount of EUR 70 million planned by the Chinese company to help Saab. Although the Swedish manufacturer has not officially disclosed the amount of aid, the newspaper Dagens Industri says that Saab has received about 100 million Swedish kroner (approximately $ 15 million). This money will go primarily to pay salaries for October, payment of utility costs and reorganization processes. "Interim financing we immediately directed to the needs of the company, so we can support the business during reorganization," said representative Saab Gunilla Gustavs. "In addition, we have ongoing expenses such as electricity and major surgery," she added. However, from a broader investment in Saab Chinese side separates the need to obtain permission from the authorities of the PRC. However, in 2010, Geely already bought a similar manner Volvo, so the chances of full recovery Saab is very high. Recall that recently the Swedish company decided to reduce some of its employees.