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Christopher Bruce2012-05-28 12:58:30

Saab Gets Bid from Japan-China Consortium

Saab is still looking for a buyer

The continuing saga of the death of SaabSaabSaabSweden, 1947 > present28 models
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continues. Youngman pulled out of the bidding process last week, according to Swedish news. That still leaves India's Mahindra & MahindraMahindraMahindraIndia, 1944 > present12 models
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and a consortium of two Japanese venture capital firms and a Chinese energy company. 

Currently, it appears that the consortium is leading the bidding process. It is serious enough to have formed a Swedish company called National Electric Vehicle Sweden AB with the sole purpose of buying Saab, and it is chaired by a former VolvoVolvoVolvoSweden, 1927 > present49 models
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executive. 

"We have placed a bid, and we want to buy Saab and build cars. We're interested in what Saab's brand stands for, the innovation and competence in the company, and the production facility that's world class," said Mattias Bergman, the group's Swedish spokesman.

Saab shut down its factory last March and were able to complete a few more partially built models later. 

Source: Automotive News

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