Sino-Japanese Group Buys Bankrupt Saab
(Beijing) – Bankrupt Swedish automaker Saab has reached an agreement for a Chinese-Japanese investment group to buy it, according to a joint statement on June 13.
The buyer, National Electric Vehicle Sweden (NEVS), is 51 percent owned by Hong Kong-based National Modern Energy Holdings Ltd., which builds high-efficiency biomass power plants. The Japanese firm Sun Investment LLC. owns 49 percent of NEVS.
- WeChat 'Glitch' Allows Family to Raise over 2 Million Yuan in 80 Minutes
- China's VAT Rebate Reform Aims to Boost Local Government Fiscal Strength
- Share Splits Raise Stock Market Suspicions
- China Faces Severe Coal Transport Capacity Shortage
- Audi Scraps Plans for New China Dealer Network
- Regions Found to Have 'Critical' Heavy Metal Emissions Now Clean Up Act
- Official PMI Spikes as Producer Prices Rise, Exports Surge
- China Adds 10% Consumption Tax for Superluxury Cars
- News Calendar, December 5-11
- Caixin's Manufacturing Indicator Dips to 50.9 in November
- Sign up to receive our free daily newsletter