Swedish carmaker Saab could be seeing the light at the end of a very dark and cold tunnel. Automotive News Europe has picked up a story by Bloomberg that a group led by a Chinese energy company and a Japanese venture-capital firm has placed a bid to buy Saab.
The two main parties in the group are National Modern Energy Holdings Ltd., a Chinese company that builds and owns power plants, and Sun Investment, a Japanese firm that focuses in high-tech environmental projects. There are other participants in the group but remain unidentified.
The group has formed a company called National Electric Vehicle Sweden AB with the sole purpose of acquiring Saab’s assets. The group decline to comment further on the business plans of the new company. Karl-Erling Trogen, former Volvo AB executive, is the chairman for the newly formed company.
This is not the first time that Saab has attracted bidders. Youngman, the Turkish government and Mahindra & Mahindra have previously shown interest. However, no company has yet succeeded in winning over the Swedish belle.
Source: Automotive News Europe
© 2012 Paul Tan's Automotive News. All Rights Reserved.
This story originally appeared on Paul Tan's Automotive News on Tue, 29 May 12 04:20:43 +0000.
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