. Energy News .




.
CAR TECH
Chinese and Japanese investors bid for Saab
by Staff Writers
Stockholm (AFP) June 7, 2012


A group of Chinese and Japanese investors have submitted an offer to take over bankrupt Swedish carmaker Saab, a spokesman said Thursday.

"We submitted a definitive offer on April 7" before the deadline for bids expired, said Mikaael Oestlund of the National Electric Vehicle Sweden AB (NEVS).

NEVS, a swedish-registered company founded by a Hong Kong-based company specialised in alternative energy and a Japanese investment fund, declined to disclose the amount of the offer.

The court-appointed administrators for Saab, which filed for bankruptcy in December, refused to confirm an offer had been made or when they might announce a possible candidate to rescue the iconic Swedish brand.

According to Swedish media they could make an announcement as soon as the end of the month.

Chinese carmaker Youngman is also known to be interested in buying Saab.

Swedish media have reported that Youngman placed a preliminary bid in late January or early February of about two billion kronor (220 million euros, $280 million).

Youngman has long been interested in Saab and tried to snap it up before it declared bankruptcy but those efforts were thwarted by the Saab's former owner, General Motors, which balked at transferring the necessary technology licences.

Reports have also surfaced that Indian commercial utility vehicles manufacturer Mahindra & Mahindra has placed a bid as well.

Saab was already on the brink of bankruptcy when GM sold it in early 2010 to Dutch company Swedish Automobile (SWAN) -- at the time called Spyker -- for $400 million.

Bankruptcy administrators said in April that Saab had assets to cover only just over a third of its debt of 13 billion kronor.

Related Links
Car Technology at SpaceMart.com




.
.
Get Our Free Newsletters Via Email
...
Buy Advertising Editorial Enquiries




.

. Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle



CAR TECH
Volkswagen targets China in group shakeup
Berlin (AFP) June 2, 2012
Volkswagen, Europe's leading automotive group, announced Saturday a shake-up to increase its focus on the Chinese market and strengthen its heavy truck and bus sector. "This fundamental reorganisation is the right response to the increasing challenges," Volkswagen CEO Martin Winterkorn said in a statement. "At the same time we are laying the foundations for keeping the group and its bran ... read more


CAR TECH
CryoSat goes to sea

S Korea to develop geostationary satellite for environmental monitoring

LiDAR Technology Reveals Faults Near Lake Tahoe

Satellite maps ocean floor

CAR TECH
USAF Awards Lockheed Martin GPS III Flight Operations Contract

Lockheed Martin Completes Navigation Payload Milestone For GPS III Prototype

TomTom eyes expanding S. American market

Spirent Launches New Entry-Level Multi-GNSS Simulator

CAR TECH
Trees grow in Poland through free send-a-seedling drive

Highway through Amazon worsens effects of climate change, provides mixed economic gains

Standing trees better than burning ones for carbon neutrality

'Missing' Borneo radio host says he is in hiding

CAR TECH
Biofuel prospects improve with higher oil prices

Scientists identify mechanism for regulating plant oil production

UGA scientists map and sequence genome of switchgrass relative foxtail millet

Energy-dense biofuel from cellulose close to being economical

CAR TECH
Solar cells for underwater use developed

Renewable energy costs falling: agency

AREVA Solar's Kimberlina Power Plant awarded POWER Magazine's 'Top Plant'

Q.CELLS Finalizes Construction of 69MW Project in North America

CAR TECH
Change in air as Africa's biggest wind farm set for Kenya

Wind Powering An Island Economy

China Leads Growth in Global Wind Power Capacity

US slaps duties on Chinese wind towers

CAR TECH
Huge Australian coal mine wins conditional approval

Russia expands presence on Spitsbergen

Australia scraps coal port expansion

Trapped China miner found after 17 days: state media

CAR TECH
Top China dissident found dead

China rounds up activists on Tiananmen anniversary

Hong Kong vigil as China rounds up Tiananmen activists

Dalai Lama envoys resign: Tibet exile govt


Memory Foam Mattress Review

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

.

The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement