Saab Bought by Chinese-Japanese Consortium to Build Electric Cars

Never say it's over with Saab as the Swedish automaker seems to have more lives than the proverbial cat…

Bloomberg News reported today a consortium named National Electric Vehicle Sweden AB, which is led by Japanese investment firm Sun Investment and Hong Kong-based renewable-energy power-plant builder National Modern Energy Holdings Ltd., has agreed to buy Saab and turn the company into an electric carmaker.

The National Electric Vehicle Sweden AB consortium was recently formed with the sole purpose of acquiring Saab.

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