EXCLUSIVE: SWEDEN: New Saab bidder to focus on electric future
Yet another potential investor is jockeying to take over Saab and is believed to be looking to steer the bankrupt automaker towards electric vehicles.
The unamed joint bid - from Japan and China - comes as receivers juggle bids from several parties in an effort to save the automaker.
Sources in Sweden told just-auto the latest suitor is a Japanese/Chinese consortium and, though details are sketchy at this stage, is thought to be positioning Saab to make electric vehicles.
“They have serious money and are a serious competitor,” a source told just-auto.
“They have tabled a bid and are very aggressive – it is a Japanese\Chinese consortium.
“[It is] a huge consortium together with battery manufacturing – they are planning to make electric cars.”
Reports in Sweden speculated the consortium may have already met Saab's receivers in Gothenburg, who are also believed to be evaluating potential bids from Chinese manufacturer Youngman as well as Indian automaker Mahindra & Mahindra.
However, despite the consortium's interest, the Swedish source remains sceptical the joint Sino-Japanese venture – also thought to be looking at battery manufacture in Saab's home town of Trollhattan – would be able to start production in the near term.
“I would say we are 20 years [away] when we could find profitability in electric cars,” he said.
Saab's receivers are believed to be closing the period in which bids can be made at the end of this month and will then take a further four weeks to evaluate the various parties' proposals.
Last week Youngman arrived in Gothenburg for what were thought to have been further talks with the receivers.
General Motors and Ford plan a series of launches in volume segments and to improve their reach and service to make a dent in the Indian car market where leader Maruti Suzuki and runner-up Hyundai Mot...
Mahindra & Mahindra, maker of utility vehicles, tractors, SUVs and owner of Ssangyong, is opening a technical centre near Detroit to supply engineering services to the huge US car industry....
Automakers in India have welcomed the INR5 (US$0.09) increase in the price of diesel to INR46.95 from INR41.32 a litre....
Volkswagen is considering a compact model for India to take advantage of lower tax rates on sub-4m cars, according to the Economic Times....
Plastic Omnium says it will substantially increase its presence in Russia and India to capitalise on growing automotive business in both countries....
Inteva Products is expanding its automotive capabilities and global presence with the opening of a new Closure Systems and Motors manufacturing plant in Pune, India....
- THE WEEK THAT WAS: 'Game changing' configurator
- Briefing: Active safety systems
- VEHICLE ANALYSIS: Leon X-Perience & SEAT SE376
- COMMENT: The diminution of Fiat
- Could the sun be the de-carbonising game changer?
- McLaren Automotive posts second year of profit
- BMW reveals redesigned Mini Clubman
- VW plans low cost car family
- JUST THE FACTS: 2016 Audi A4 first look
- Audi is first customer for new car configurator
- Global light vehicle safety systems market- forecasts to 2029
- Global light vehicle OE connectivity market- forecasts to 2029
- Magna International Inc. (MG) - Financial and Strategic SWOT Analysis Review
- Global electric light vehicles market- forecasts to 2018
- Global light vehicle OE starter motors and alternators market- forecasts to 2029