Coincidence? Shortly after Spyker sues GM for $3 billion over the Saab buyout, the Dutch automaker has signed a deal with Chinese automaker Youngman. As many know, Youngman attempted several times unsuccessfully to bid for Saab, but was blocked blocked by GM.
It seems Youngman has invested $12.5 million for a 29.9 percent stake in Spyker with no intent to take more than that in the future. In addition, the Chinese automaker will invest another $31 million to develop the D8 P2P SUV, which will be an all-new Spyker vehicle. A while back, Spyker revealed a concept (seen above) and the D8 P2P will resemble the original concept. On schedule to launch by the end of 2014, the car could cost as much as $250,000.
The collaboration will also allow Spyker to take advantage of the Phoenix architecture that Saab had built. Late last year, the platform was sold off to Youngman and will be the basis for a second new model for Spyker.
“We have felt all along that a cooperation with Spyker had to be pursued, even after we both unjustifiably lost the opportunity to restructure Saab,” said Pang Qingnian, Youngman CEO. “With this agreement, many of our original intentions with the Saab brand will take shape.”