“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.