Pursuits
Saab Auto Sold to China-Japan Group in Electric-Car Push
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A Chinese-Japanese investment group agreed to buy Saab Automobile and convert the bankrupt Swedish manufacturer into a maker of electric cars.
The first vehicle under the plan will be based on Saab’s 9-3 car and will go on sale early in 2014, with China as the main market, purchaser National Electric Vehicle Sweden AB and the bankruptcy administrators for Trollhaettan-based Saab said today in a joint statement. The parties agreed not to disclose the price of Saab’s sale.