Saab Sold to New Owners

New Deal for Troubled Swedish Saab

The administration group charged with looking after the troubled Saab Manufacturer have secured a deal to sell to National Electric Vehicles Sweden.

Saab was sold for a undisclosed amount and brings new hope for manufacture.

The new owners are keen to start a fresh with new projects predominantly concentrating on the production of electric vehicles for the Swedish markets.

The statement said  “Nevs and the receivers of the Saab Automobile bankruptcy estate today signed a purchase agreement which covers the main assets of Saab Automobile AB, Saab Automobile Power train AB and Saab Automobile Tools AB.”

The new owners have an impressive pedigree with the chief executive and main owner of Nevs being a Swedish citizenship originally from China called Kai Johan Jiang. In fact the Chairman is a used to be the head of the truck division of the truck and construction equipment maker Volvo.

Saab has had problems for some time and went bankrupt in December 2011. This was flowing a cash flow crisis which had started in earlier in the year and eventually lead to a halt in production.

Lets hope that this will breath new life into the brand and invigorate Saab back in to the once innovative brand it once was.

 

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