GUANGZHOU, Nov 21 (Reuters) - All of the parties involved in a deal to invest in ailing car maker Saab are still communicating after the expiration of a memorandum of understanding last week, said an executive with Youngman Auto on Monday.
Huang Zhiqiang, vice president of Zhejiang Youngman Lotus Automobile, made the comment to Reuters on the sidelines of the Guangzhou autoshow.
Huang said that investing in Saab is a strategic decision for Youngman.
“It’s not a short sighted move. We got into the deal as a long-term investor,” he said.
Chinese investors Pang Da Automobile Trade Co and Youngman have been considering an acquisition of Saab, but the memorandum of understanding among the three parties expired on Nov. 15. (Reporting by Fang Yan and Don Durfee; Editing by Jacqueline Wong)