Chinese in £283m bid for Saab

Published on 04/02/2012 00:00

chinese car maker Zhejiang Youngman Lotus Automobile has made a 3 billion crowns (£283m) offer for bankrupt Swedish group Saab which has drawn a cool response from receivers.

The receivers want bids for parts of Saab rather than the whole business as that would raise more for creditors, sources said.

Saab was declared bankrupt in December after months of efforts to keep it afloat by owner Swedish Automobile.

Youngman intends to start production in Trollhattan, said the source.