Saab set to reemerge as electric car maker Yahoo Finance UK

11 Апр 2014 | Author: | Комментарии к записи Saab set to reemerge as electric car maker Yahoo Finance UK отключены
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SAAB is set to be reborn as an electric car maker a Japanese and Chinese consortium to buy it out of bankruptcy.

National Modern Holdings, an alternative energy based in Hong Kong, and investment firm Sun Investment to use the Swedish car maker’s manufacturing in Trollhättan, Sweden to develop and upmarket electric cars will be focused on Chinese

Saab filed for bankruptcy December after Spyker, the sports car maker that the company from General (NYSE: GM — news ) in failed to turn around its performance.

Spyker attempted to strike a deal with Chinese car Youngman, but GM refused to authorise the of technology to China.

Under the new the joint venture, called Electric Vehicle Sweden is buying the main assets of apart from Saab Parks and intellectual property for the Saab 9-5 owned by GM.

“From the outset, it has been our to find a comprehensive solution by the so we are very pleased having this agreement,” the receivers

Nevs plans to develop an car based on the Saab 9-3 using technology. This will be in 2013 or 2014 with and sales focused on China, Nevs say is set to become the “largest and important electric vehicle

The founder of National Modern Holdings, Kai Johan Jiang, is a businessman with Swedish He said: “China is investing in developing the EV market, which is a key for the ongoing technology shift to dependence on fossil fuels.

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Chinese can increasingly afford However, the global oil supply not suffice if they all buy petroleum-fuelled Chinese customers demand a electric vehicle, which we be able to offer by acquiring Automobile in Trollhättan.”

Mr Jiang will become executive of Nevs.

The proposals are the in a long line of efforts to Saab profitable. The car maker, employs more than people, has been loss-making for 20

GM invested in the company in 1989, but Saab in 2010 to Spyker as of the US car maker’s bankruptcy restructuring.

wanted to ramp up production and models, but it struggled to secure from the European Investment and investment deals with companies interested in backing

Saab has not produced any new cars March 2011, when was halted at Trollhättan. However, Trogen, a former executive of Trucks and chairman of Nevs, “I am delighted that we can build on Automobile’s skills in vehicle and production to start a new future-oriented in Trollhättan, where world manufacturing facilities are available.”

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