EXCLUSIVE: SWEDEN: New Saab bidder to focus on electric future
By Simon Warburton | 26 March 2012
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.
Sectors: Electric drive, Vehicle manufacturers
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EXCLUSIVE: SWEDEN: New Saab bidder to focus on electric future
26 Mar 2012 -
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