#ZhejiangYoungmanLotusAutomobileCo

Earlier warning signs were brought to attention this year when Lotus’ Malaysian parent company Proton sold a controlling stake to another Malaysian conglomerate, DRB-Hicom. As per Malaysian law, Lotus had to halt all business operations and freeze its financial accounts during the 60-day transition period.

Just about 100 more Saabs will roll off the line after the Swedish automaker decided to send some employees back to finish incomplete units still standing in the factory.

Despite being officially declared bankrupt,  Saab still has organizations willing to snap up the remnants, as the former Swedish carmaker goes into liquidation.

In yet another twist to the ongoing Saab soap opera, the Swedish automaker has received a payment from Zhejiang Youngman Lotus Automobile as it struggles to stay solvent. The payment, which is some $5 million will be reportedly be used to cover outstanding tax expenses.

With time, it has seen some positive developments, but things don’t look any better for the foreseeable future.

Saab’s sob story saga might be coming to an end, though the information surrounding their pending acquisition is murky at best.

Although Saab has been struggling for the past year, don’t bet against it. All but doomed when GM sought to stop Saab’s deal with the Chinese Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co., Youngman is now proposing a new deal with Bank of China, the country’s fourth largest bank by market value.

Saab‘s matchmaking saga is the stuff of cinema. Facing compounding financial dilemmas and a series of unsuccessful talks with a number of investors, the troubled Swedish automaker had little going for it. Just as Saab was close to finally making a deal with its Chinese investors, Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co., the company faces yet another challenge that may prevent the deal from happening.

After much back and forth over the past months between Swedish Automaker Saab and Chinese suitors Pang Da Automobile Trade Co. and Zhejiang Youngman Lotus Automobile Co., it seems like funding for Saab is very much back. The Chinese companies have both agreed to buy the Swedish automaker, providing the company with some much needed short and long term liquidity.

It’s been a leaky autumn so far in the motoring universe. Supposed actual pictures and specs have been “leaked” on Toyota’s upcoming FT-86 coupe (FR-S to us in North America); as well as details on Honda’s new generation CR-V crossover.

Narrowly escaping bankruptcy and liquidation for the 17th time (ok, maybe that’s an exaggeration), Saab has confirmed receipt of a 70 million Euro payment from Chinese investor and automaker Zhejiang Youngman Lotus Automobile Co.

The Saab soap-opera continues, but this week the news is good. Saab just won a court appeal to protect it from creditors while it awaits funding from its Chinese investors.

Saab‘s parent, Swedish Automobile (formerly Spyker Cars), announced that an unnamed Chinese company will purchase 582 Saab cars at a total value of 13 million Euros ($18.4 million) in order to help the automaker pay wages to its employees and part of the money it owes to suppliers.

It seems every time the company starts production, something will cause the production line to stop, whether its money related or parts supply related, and often both.