Deal Aims to Put Saab in Green Technology Driver's Seat

(Beijing) – The dark clouds over bankrupt Swedish car maker Saab have finally cleared.

On June 13, Saab Automobile AB's liquidator signed an agreement with National Electric Vehicle Sweden AB (NEVS) to sell the company's main assets to the Sino-Japanese investment group. Jiang Dalong, president of NEVS, said Saab would no longer be a traditional automaker, but produce electric vehicles. NEVS was formed in May in Sweden specifically to acquire Saab.