Saab's proposed new co-owner, the automaker Youngman, said it did not envisage job cuts among the automaker's almost 4,000 workforce, as it inked a memorandum of understanding today (28 October) to acquire the Swedish automaker completely with fellow Chinese partner, vehicle distributor Pang Da.

Saab has previously raised the possibility of 'rationalisation' of its workforce that has not produced a car since April this year and, indeed, reports from Sweden indicate current CEO Victor Muller is not ruling out some losses, but Youngman said cutting workers was not on its agenda.

Talks went on late into last night in Stockholm between Saab, Youngman and Pang Da, with the final decision to sell Saab Automobile and Saab Great Britain for EUR100m (US$141m) subject to agreement by Swedish and Chinese governments.

"Of course we will maintain the current teams at Saab, all the jobs...no job losses," Youngman Saab project director Rachel Pang told just-auto from Stockholm. "We will make sure this factory [Trollhättan] is run at full capacity - we are looking to keep the factory in Sweden.

"We would like to work together with them [Saab] to restore production and then build up the future of the company. As soon as the Chinese and Swedish governments approve, we would like to start production."

Pang was unable to reveal how Youngman and Pang Da will split ownershipbut it appears the deal has placated current Saab CEO Victor Muller who earlier this week rejected an offer from both as "unacceptable".

Whether or not Muller remains as CEO has also not yet been decided with Pang noting only: "We have not discussed Victor Muller, we have not had time."

She reaffirmed Youngman's assertion that it had "prepared a complete business plan for this" although she was unable to reveal any likely vehicle production volumes.

"I don't have the number in my hand right now," she said. "I would like to say we will make some information available next week."

Pang also declined to be drawn on the EUR100m price tag for Saab noting only: "Everyone knows Saab has very good technology and this Saab brand with the DNA is special."