Swedish Automobile, owner of Swedish car maker Saab, announced on Monday it has signed an agreement for the licensing of technology to the Chinese car company Youngman.

The news comes five days after Swedish Automobile, previously known as Spyker, was denied court protection pending a ‘voluntary reorganisation’. The company is currently pursuing an appeal in the Swedish courts.
In the meantime, two Swedish trade unions have applied for bankruptcy proceedings against Saab because of unpaid salaries.