| Industry | Automotive |
|---|---|
| Founded | 2001[1] |
| Founder(s) | Pang Qingnian |
| Headquarters | Jinhua, Zhejiang, China |
| Products | Automobiles |
| Employees | Approx 4,000[2] |
| Website | Youngman |
Youngman (officially China Youngman Automobile Group Co., Ltd.) (Chinese: 青年汽车集团) is a Chinese manufacturer of automobiles, buses and trucks located in Jinhua, Zhejiang province.[3] The company was founded in 2001 by Pang Qingnian.
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Youngman was founded in 2001 by Pang Qingnian. After the completion of the constructions of factories, the company developed two joint ventures with the German companies Neoplan (at this time known as Gottlob Auwärter GmbH & Co. KG) and MAN for the manufacture of buses and trucks. After increasing of orders, the manufacturer has built plants in the cities of Jinan, Tai'an, Lianyungang, Quzhou and some other places to meet the high number of orders. Currently the company employs more than 4,000 workers. Since 2001 Youngman is the largest bus manufacturer in the People's Republic of China and an official supplier for the markets of the Russian Federation, South Korea, Singapore and the Middle East. Individual units are sold to Europe and the United States of America. MAN takes only a marginal position within the Youngman concern. Most Chinese MAN clients are companies who need special vehicles such as the main customer Daqing Oil Field Company. Main sector is thus the dangerous goods sector. More successful are the buses, which are marketed internationally.
In September 2006 Youngman established a joint venture with the Iranian state-owned carmaker Iran Khodro for the manufacture of the Samand and Soren vehicles, to be produced at Youngman's Tai'an plant. Responsible for the supply of parts for the assembling is the French PSA Peugeot Citroën concern.
Since 18 November 2006, Youngman is also the official importer of sports cars from the English manufacturer Lotus Cars. In another joint-venture with the Lotus Group which was closed in December 2008, Youngman is assembling Lotus and Europestar branded cars in Guangdong for the Domestic Chinese and export market. The units receive a Chinese independent brand to differentiate itself from the English sports car models. The Chinese part of the Lotus Cars is better known under the name Youngman Lotus. With the Lotus joint venture, Youngman is engaged in secondary activities as the exclusive importer of American automotive brand ZAP!. Both brands had its China debut at the Beijing International Auto Show in 2009.
In 2007, Youngman acquired the American car brand Detroit Electric, with the intention of manufacturing Proton-based vehicles for the North American market. In Europe, Youngman plans to establish itself to the European market with their new plant called European Automobile City. In May 2008 it was reported that Youngman had signed two major agreements with the Malaysian carmaker Proton.[4] The first was for the import of 30,000 Proton Gen-2 models from Malaysia to China over two years, to be sold under the EuropeStar brand as the RCR model.[4] The second was a licensing deal for Proton's Lotus-designed Campro engine, whereby Proton would sell 150,000 complete knock down units to Youngman over the subsequent six years.[4] In June 2010 Youngman announced that it would be making an investment of CNY 4 billion in the construction of new manufacturing facilities in Haining, Zhejiang Province, for the production of passenger cars, alternative energy powertrain systems, vehicle bridges, transmissions and inner and exterior auto components.[5]
On 29 October 2011 it was reported that Youngman and the Chinese automotive retailer Pang Da Automobile Trade Co had agreed a joint $140 million takeover of the Swedish carmaker Saab Automobile and its United Kingdom dealer network unit from Swedish Automobile, with Youngman and Pang Da taking 60 and 40 percent stakes respectively.[6][7][8] Both Chinese companies pledged to invest 610 million euros ($844 million), prompting a court to extend the manufacturer's protection against creditors.[9] In December 2011 General Motors (GM) blocked the Chinese buy out, since GM has technology licenses in SAAB.[10]
Youngman sells passenger cars in China under the Lotus marque. Current products include the L3 and L5 models, and are engineered with the assistance of the United Kingdom-based Lotus Engineering.[11][12]
Youngman currently produces coaches and trucks in collaboration with the Germany-based MAN Truck & Bus. Coaches are sold under the Youngman and Neoplan marques.[13] Trucks are sold under the Youngman and MAN marques.[14]