Subscribe free to our newsletters via your
. Farming News .




CAR TECH
Sweden court accepts receivership for Saab carmaker
by Staff Writers
Stockholm (AFP) Aug 29, 2014


A Chinese-owned company set up to take over Saab's assets after the troubled Swedish carmaker's bankruptcy said on Friday it had succeeded in being placed in receivership.

National Electric Vehicle Sweden, or NEVS, had applied to be protected against creditors while seeking new sources of financing.

"The district court of Vaenersborg today, Friday August 29, accepted NEVS's request for receivership," the company said in a brief statement.

The announcement came a day after the court initially rejected the request, saying it lacked sufficient clarity and documentation.

According to several Swedish media reports, NEVS has been negotiating with automakers Mahindra (India) and Dongfeng (China) to raise funds to cover substantial debts to suppliers.

NEVS said in its application to the court it owed 400 million kroner (43.5 million euros, $57 million) to suppliers, according to news agency TT which obtained a copy of the document.

The company is controlled by the Chinese industrial enterprise National Modern Energy Holdings, which owns 78 percent of the shares, and the east Chinese city of Qingdao, which owns the rest.

Since 2000, Saab automobile has had no connection with the defence and aeronautics firm of the same name.

Saab automobile offers only one model today -- the 9-3 Aero Sedan -- and under NEVS ownership the company has targeted the Chinese market with a line of electric cars.

.


Related Links
Car Technology at SpaceMart.com






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
France's Peugeot gets approval for China plant: report
Shanghai (AFP) Aug 26, 2014
French auto maker PSA Peugeot Citroen's fourth plant in China has been approved for the southwestern city of Chengdu by local authorities, the official Xinhua news agency said Tuesday. The economic planning agency of Sichuan province, of which Chengdu is the capital, approved the 12.3 billion yuan ($2.0 billion) plant on Monday, it said. Peugeot and its Chinese partner Dongfeng Motor Cor ... read more


CAR TECH
NASA Rainfall Satellite Out Of Fuel, but Continues to Provide Data

Analyzing Snowfall Data for GPM

How much do climate patterns influence predictability across the United States?

NOAA analysis reveals significant land cover changes in US coastal regions

CAR TECH
Update on Galileo launch injection anomaly

Experts probe launch failure for EU's satnav project

Galileo navigation satellites lose their way in space

Arianespace serves the Galileo constellation

CAR TECH
Brazil cracks 'biggest' Amazon deforestation gang

Brazil arrests 8 in Amazon deforestation swoop

World's primary forests on the brink

New analysis links tree height to climate

CAR TECH
VIASPACE Establishes Giant King Grass Research Collaboration With California

Cenex Tank Program assists retailers offering E15

SG Preston Announces World's Largest Purpose-Built Renewable Diesel Plant

Ceres to Expand Product Development in Sorghum and Sugarcane

CAR TECH
Minnesota Power, National Guard in solar energy deal

Solar System Transforms Fallow Land Into Money Generating Asset

HelioSage Energy Announces Sale of 12 Solar Projects in North Carolina

SunShare Announces Program to Provide Free Electricity

CAR TECH
Real 20 per cent Renewable Energy Target would decimate industry

Scottish marine power a testament of unity, London says

Scottish government approves build of Iberdrola wind farm

U.S. Wind Inc. wins rights to wind energy offshore Maryland

CAR TECH
Australia approves huge India-backed mine

Beijing shuts large coal power plant to curb smog: report

Twenty-two dead in southwest China coal mine accident

CAR TECH
Nouveaux riches and pollutants in new Chinese dictionary

Speaking in tongues: China divided over the common language

China court frees man after six years on death row

China 'cult' members on trial for McDonald's killing: court




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news 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 All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.