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Chinese-Japanse consortium bids for Saab

Published on May 26, 2012 by Tycho de Feijter

Saab might be saved again. This time by a Chinese-Japanese consortium specialized in clean energy and power plants. It isn’t just a rumor. The consortium has established a Swedish company called ‘National Electric Vehicle Sweden AB’ which has placed a bid for what is left of Saab. Read more from Bloomberg:

A group led by a Chinese energy company and a Japanese venture-capital firm has placed a bid for bankrupt Swedish carmaker Saab, a spokesman for the investing team said.

The two main parties in the group are Sun Investment, a Japanese firm that specializes in high-tech environmental projects, and National Modern Energy Holdings Ltd., which has roots in Hong Kong and builds and owns power plants.

“We have placed a bid, and we want to buy Saab and build cars,” Mattias Bergman, a spokesman for the group, said today. “We’re interested in what Saab’s brand stands for, the innovation and competence in the company, and the production facility that’s world class.”

The bidding group has additional participants, Bergman said, declining to identify them.

The group has formed a company called National Electric Vehicle Sweden AB “with the only purpose of buying Saab’s assets.”

Karl-Erling Trogen, a former Volvo AB executive, is chairman.

Bergman declined to talk about the size of the bid or the group’s business plan, including whether the investors primarily aim to build electric cars.

“Our name is National Electric Vehicle Sweden, but I can’t talk about the technologies at this point,” he said.

Via: SaabsUnited.

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