Caixin OnlineBusiness & IndustryTop Stories Industry Sino-Japanese Group Buys Bankrupt Saab
06.14.2012 15:42

Sino-Japanese Group Buys Bankrupt Saab

Swedish automaker bought by company whose majority owner is China's National Modern Energy Holdings
By staff reporters Han Wei and Liang Dongmei

(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.

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