Sep 07, 2012 05:43 PM

Automaker Youngman Lives in the Fast Lane

By staff reporter Wu Jing and special correspondent Tian Yongqiu

(Beijing) – China Youngman Automobile Group Co. Ltd. is racing down the development road. Whether it will crash or become a leading Chinese auto firm is anyone's guess.

On August 27, the Zhejiang-based manufacturer said it would buy a 29.9 percent stake in Spyker NV for 6.7 million euros. It will also offer another 3.3 million euros as a shareholder loan to the Dutch car maker.

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