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Assets of bankrupt Saab sold to NEVS

Swedish-Chinese businessman buys SAAB
Youngman raises bid for Saab Automobile

A Chinese-Japanese backed electric vehicles start-up has bought a large part of the assets of bankrupt Swedish car maker Saab Automobile for an undisclosed sum, administrators of the bankruptcy said on Wednesday.
 
The consortium National Electric Vehicle Sweden (NEVS) plans to develop electric vehicles at the former Saab Automobile's Trollhättan plant. 

"We're striving to be a world-leading company for electric cars," Mattias Bergman, a spokesman for National Electric Vehicle Sweden, said at a press conference in Trollhättan, according to Bloomberg.

"It's not only about China being a big market for electric cars, it's also about China having the ability to make the investments required and build the needed infrastructure."

Kai Johan Jiang, founder and main owner of National Modern Energy Holdings, will become chief executive officer of National Electric Vehicle Sweden, spokesman Bergman said on a call with reporters.

The bankrupts administrators, Wistrand, said in a statement: "National Electric Vehicle Sweden AB (NEVS) and the Receivers of the Saab Automobile bankruptcy estate today signed a purchase agreement which covers the main assets of Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tools AB.
 
"The agreement includes all outstanding shares in the property company which owns the Saab Automobile facilities in Trollhättan, Sweden.
 
"The price for the assets has not been disclosed.
 
"Saab Automobile Parts AB, as well as intellectual property rights for the Saab 9-5, owned by General Motors, are not included in the purchase agreement".
 

Last Updated (Wednesday, 13 June 2012 18:44)

 

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