Search 4,000 EV News articles

Monday, June 11, 2012

Saab SOLD for 200M to National Electric Vehicle Sweden

According to Swedish media reports, the new owner of SAAB is National Electric Vehicle Sweden AB.

National Electric Vehicle Sweden AB is owned by National Modern Energy Holdings Ltd. (51%) and Sun Investment LLC (49%).

However, the court-appointed administrators for Saab, which filed for bankruptcy in December, refused to confirm an offer had been made or when they might announce a possible candidate to rescue the iconic Swedish brand.

The Japanese-Chinese consortium is a relative unknown in the industry, but it’s name, National Electric Vehicle Sweden, was recently registered by Sweden’s governmental registration office.

“We have a very anonymous investment company that owns shares in this registered company, Sun Investment, but we still don’t know who’s behind it,” Valdemar Lonnroth, a Swedish journalist told Autocar. “We don’t know if it’s a Chinese or a Japanese company behind this conglomerate. Nobody has really a picture of what kind of resources they have or what their intentions are, besides the fact that they want to produce electric vehicles.”

National Modern Energy Holdings Ltd is owned from Hong Kong and is focusing on alternative energy sources for China, using high-efficiency biomass power plant designs.

Sun Investment LLC is a Japanese investment company, focused on high-technology projects within environmental and sustainable solutions.

Saab filed for bankruptcy late last year, after struggling to secure long-term investment since it was sold off by GM in 2010.

Saab was sold by General Motors to Spyker for around $400 million US dollars in 2010. When the company first entered bankruptcy late last year, they reportedly were facing around 13 billion Swedish Kronor ($1.83 billion US dollars) but after assessing the company’s assets and liabilities – that amount was lowered to “just” 9 billion Swedish Kronor ($1.26 billion USD).

Blog Widget by LinkWithin

No comments:

Post a Comment