Time and time again, China’s Youngman tried, and failed, to buy Sweden’s now defunct Saab, but it looks like an eligible bidder might have finally entered the circle with a chance to acquire the company.
National Electric Vehicle Sweden, a company whose name was only approved by Sweden’s company registration office on Monday, is looking like the most likely candidate to take on the company’s assets.
Little is known about the newly-named firm, but former Volvo Trucks head Karl-Erling Trogen is reportedly the lead bidder. The company, is said to be backed by a Chinese-Japanese consortium with 245 of its 500 shares belonging to an ambiguous company called Sun Investment and 255 held by Mikael Kubu, the President of Sweden’s second-largest law firm.
Until now, the foremost bidder has been a Chinese firm called Youngman, but repeated attempts to buy the failed company were foils for varying reasons. One of the largest was that former Saab owner, GM, refused to co-operate with the sale over fears that sharing its technology would compromise its own interests in the Chinese market.
Information on the current bid is hazy, but it looks like the same story is going to creep up, with GM refusing to negotiate licensing key technology with prospective buyers.
Given the current bidder’s name, it might be reasonable to assume that a group of investors are joining to use the already-developed Saab platform to bring a new EV to market faster than a startup could from scratch. There was talk almost two years ago of a Saab electric car, which would support the theory that a lightly modified or even just rebadged version could be in the works.
Then again, with the name having been granted days ago, what’s really going on is anybody’s guess.