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Dutch sports car manufacturer, Spyker, has recently announced that they have formed a new alliance with Chinese automaker, Youngman. Spyker CEO Victor Muller hopes that this partnership would raise the Saab name from the ashes. In the agreement, Youngman is reportedly investing around US$12 million in Spyker where most of it will be used to purchase shares in the Dutch company (29.9 percent) and the rest as a loan. Youngman has mentioned that they will not acquire more than the 29.9 percent stake. On top of the above mentioned, Youngman will invest around US$31 million for the development of an all new vehicle known as the D8 P2P, named after the Peking to Paris rally. Spyker unveiled the P2P vehicle previously in 2006 but development for it has been very quiet since then. Spyker has also mentioned that they will now build the vehicle and it will be launched at the end of 2014 with a price tag of around US$250,000. Another part of this new alliance, which will interest Saab fans, is the announcement of the Spyker Phoenix project. Youngman will provide Spyker with the rights to the Phoenix platform which they bought last year. Youngman will also provide the finances needed for the production of any Phoenix-based vehicle and they will hold 80 percent of the project while Spyker holds the remaining 20 percent. The Spyker Phoenix joint venture will feature a new range of vehicles based on the Phoenix platform. In addition to a new 9-3 sedan, planned models include a flagship 9-7 sedan and a 9-6X crossover. Production of these vehicles will take place in both China and Europe.

[extract] After months of reports from Saab