Swedish car maker Saab, which became bankrupt in December, has been acquired by National Electric Vehicle Sweden (NEVS), a Chinese-Swedish investment group, which plans to transform the venture into a electric vehicles manufacturer.
Saab’s administrator said Saab will start a new operation to develop and produce electric cars. The administrator said in April that Saab had assets to cover about a third of its debts of £1.2 billion.
Saab employs about 3,000 people, with its main base at Trollhattan, west Sweden, where investment in new electric car manufacturing will be made.
