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Has Saab Been Sold to EV Consortium?
A Sino-Japanese consortium, National Electric Vehicle Sweden AB, has acquired the assets of bankruptcy Saab Automobile AB, according to Swedish news media.
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A Sino-Japanese consortium, National Electric Vehicle Sweden AB, has acquired the assets of bankruptcy Saab Automobile AB, according to Swedish news media.
NEVS, which announced last week that it had made an offer of undisclosed size for Saab, won't confirm the reports. The company says it is interested in Saab's innovation, brand image and manufacturing expertise.
NEVS was created for the purpose of buying Saab by an investor group led by Japanese venture capital firm Sun Investment and Chinese utility company National Modern Energy Holdings Ltd. NEVS chairman is Karl-Erling Trogen, a former senior executive at AB Volvo. Also on the company's board is former Volvo senior adviser Kai Johan Jiang.
Saab entered bankruptcy in Sweden in December. The main obstacle to a sale has been former parent General Motors Co.'s unwillingness to license its technology which underpins many Saab models to a new owner.
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