Reports: Saab Assets Sold to Asian Investment Group

A consortium of Japanese and Chinese investors has acquired the assets of bankrupt Saab Automobile AB, according to media reports in Sweden.

The reports say the purchase was made by National Electric Vehicle Sweden AB, a group created specifically to buy Saab. NEVS said last week it had made an offer but has not confirmed the sale.

The consortium has not disclosed whether it wants to build Saab EVs but says it is interested in Saab's innovation, brand image and manufacturing capabilities.

NEVS is led by Japan's Sun Investment and Chinese utility company National Modern Energy Holdings Ltd. The group's chairman is a former senior executive at AB Volvo, and its board includes a former Volvo advisor.

Saab entered bankruptcy in Sweden in December after months of fruitless efforts to find investors. 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.