The Saga Continues: New Electric Car Company Wants to Bail Out Saab

Just when we thought Chinese company Youngman Lotus was going to help bail Saab out of bankruptcy, the company has dropped out of the process. Replaced as Saab’s potential savior is a Swedish electric car company.

A new company named National Electric Vehicle Sweden is reportedly the lead bidder for Saab’s assets, as talks between Youngman and Viktor Muller, the entrepreneur behind Spyker Cars, fell through. Not much is known about the new-to-the-scene Swedish company because it’s so new. So new, in fact, that Sweden’s company registration office just approved its name earlier this week. However, Autocar reports former Volvo Trucks head Karl-Erling Trogen is involved with the company.

That’s not all, though. A Japanese-Chinese conglomerate is also reportedly backing the new company, with 245 of 500 shares owned by a mystery company named Sun Investment. “We still don’t know who’s behind it,” said a Trollhattan newspaper writer to 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.”

Saab’s liquidator remains tight-lipped about any sale activity, while former Saab owner General Motors, said it hasn’t licensed any key technology to any prospective buyers..

Source: Autocar

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