Newly Formed Swedish Electric Car Company 'Close To' Purchasing Saab

A newly named company, National Electric Vehicle Sweden is reportedly at the top of the list among those that have expressed interest in buying Saab out of bankruptcy.

We reported in March a certain un-named Japanese-Chinese consortium was looking to buy the assets out of Swedish bankruptcy administration, and it would appear it is making progress.

According to Autocar, on Monday Sweden’s company registration office approved the new Swedish-oriented name for the company backed by the Japanese-Chinese consortium.

Reportedly, 245 of its 500 total shares are owned by “Sun Investment,” and 255 are owned by Mikael Kubu, the President of Ac-Gruppen, a law firm based in Gothenburg.

Autocar reports also that Karl-Erling Trogen, former head of Volvo Trucks is involved with the newly formed National Electric Vehicle Sweden which has generally expressed intentions to begin making electric vehicles badged as Saabs.

But details are being obscured by the secretive group and others who might shed light are also keeping mum about what’s actually happening.

A journalist at the local newspaper in Saab’s home town of Trollhatten has said he has not been able to learn more about Sun Investment, and it is remaining “very anonymous.”

“We don’t know if it’s a Chinese or a Japanese company behind this conglomerate,” said journalist Valdemar Lonnroth. “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 former owner, General Motors, says the negotiations do not involve acquisition of any of its prime technological property, and the liquidator, Hans Bergqvist denied further comment saying only negotiations are at an intense juncture.

Since the factory closed in December, an estimated 1,000 Saab employees have already found new work, which is precisely what Mats Faegerhag, Saab’s product development chief was quoted as saying he feared.

Faegerhag told Automotive News last December there was still a chance Saab could be saved if a “viable investor” comes forward, “but that would have to happen quick, in a few weeks, because our employees will be looking for other jobs,” he said.

Now five months later, with former suitor, Chinese automaker Zhejiang Youngman Lotus Automobile having fallen away, what primarily remains is Saab’s assets and name rights to what could become a Chinese-Japanese as-yet mystery EV brand with a purchased Swedish-American heritage.

Autocar UK

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  • Max Reid

    Great News

    Hope they sell the ePower Wagon as a plugin which can also run on Ethanol.