Saab’s new owners expect to ink the closing deal of its takeover once a final payment has been made to the bankruptcy receivers in Gothenburg “during the summer.”
No specific timetable has been outlined by National Electric Vehicle Sweden (NEVS) for the formal transfer of ownership – or any financial details – but the Chinese/Japanese/Swedish triumvirate foresees no new hurdles to delay the process following the recent disposal by estate specialists, Hemfosa, of its interest.
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“We don’t need any approval from any authorities, neither in Sweden, nor elsewhere,” a NEVS spokesman told just-auto from Sweden. “We have signed the deal with the bankruptcy receivers and the next step is the closing and final payment – that will be during this summer – so we don’t have to rely on anyone else.”
Previous Saab suitor, Youngman, which ultimately failed in its lengthy attempt to purchase the Swedish automaker, could well have come up against Beijing’s powerful National Development and Reform Commission (NDRC), but NEVS envisages no such obstacles with its own Chinese interest.
“This is not a Chinese investment – the majority owner in NEVS is National Modern Energy Holdings,” said the NEVS spokesman. “It is managed from Hong Kong and registered in the British Virgin Islands.
“That Hong Kong company is China Dragon Based Holdings, which was the original company Kai Johan Jiang [NEVS majority shareholder] registered in 2004. So the money is not coming from China, therefore we don’t need NDRC approval.”
The NEVS spokesman added Jiang would be based in Sweden, once the management team has been established for a potential production start of Saab electric vehicles based on the 9-3 platform that it maintains avoids the need for former owner, General Motors’ technology licence approval.
New NEVS chairman and former Volvo Trucks president, Karl-Erling Trogen, will have an office in Saab’s hometown of Trollhattan and brings significant experience from the Gothenburg lorry producer.
“He [Trogen] is part of the management team now,” said the NEVS spokesman. “Of course, his competence and experience is very important for the management team.
“He has long experience of Volvo and Volvo in Sweden and of course will be Sweden-based.”
NEVS anticipates launching its new electric Saab in either late 2013 or early 2014.
