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Malcolm Flynn | Aug, 28 2012 | 0 Comments

A new partnership between Swedish sports car maker Spyker and Chinese carmaker Youngman is set to resurrect at least two dormant projects.

The two names have been linked previously, with Youngman launching two failed attempts at purchasing the formerly Spyker-owned Saab brand in the past 12 months.

This new union will initially consist of a €10 million (AU$12 million) investment from Youngman, which will be divided between Spyker shares and loaned funds.

A second stage of investment will see Youngman contribute a further €25 million (AU$30 million) to secure a 75 percent stake in the venture.

The remaining 25 percent will belong to Spyker, who will contribute the intellectual property behind its 2006 D12 Peking-to-Paris concept and other trademarks in lieu of cash.

This second stage will form a venture named Spyker P2P (Peking-to-Paris), with the intention of developing a production version of the luxury SUV concept.

The Swedish brand’s founder, Victor Muller, confirmed in April that he has sought investors to develop the Peking-to-Paris.

Beyond the P2P project, the partnership also plans to develop a range of vehicles based on the Saab Phoenix platform - originally slated for several future Saab models.

Youngman successfully licenced the platform from Saab last year, but will rely on Spyker’s luxury expertise to bring production models further upmarket than the intended Saabs.

Funding for the Phoenix project will again be largely provided by Youngman, though Spyker will retain a 20 percent stake.

Both Youngman and Spyker have pointed out the mutual benefits of the alliance.

“Many of our original intentions with the Saab brand will still take shape and we are excited to help Spyker further develop its vehicle model range with the SUV and vehicles based on Saab Automobile's Phoenix platform technology”, Youngman CEO Pang Qingnian said.

Muller added that the two parties “clearly share the vision on how to shape Spyker's future as partners going forward.”

 
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