New Saab Owners Will Make Final Payment This Summer image

Saab’s owners expect to finalize the deal once the last payment is made to the bankruptcy receivers in Gothenburg this summer.

The National Electric Vehicle Sweden has not set a specific timetable or financial details for the formal transfer of ownership, but no new delays of the process are foreseen.

“We don’t need any approval from any authorities, neither in Sweden, nor elsewhere,” a NEVS spokesman said. “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.”

NEVS also added that this is not a Chinese investment and that majority owner in NEVS is National Modern Energy Holdings, which is managed from Hong Kong and registered in the British Virgin Islands. Since the money is not coming from China NEVS doesn’t need National Development and Reform Commission approval. China Dragon Based Holdings was the original company Kai Johan Jiang, NEVS majority shareholder. Karl-ErlingTrogen, the former Volvo Trucks President, will be new NEVS chairman, with an office in Saab’s hometown of Trollhattan.

“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.”