new deal with swedish electric car maker underway
Last Updated : GMT 20:35:24
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Arab Today, arab today

New deal with Swedish electric car maker underway

Arab Today, arab today

Arab Today, arab today New deal with Swedish electric car maker underway

Luxury - Arabsotday

Just a few weeks ago, it seemed all but inevitable that Saab would be saved by a massive takeover bid from Chinese mega-company, Youngman but unfortunately, the company recently confirmed that it has pulled out of its multi-billion dollar bid to purchase the flailing brand. However, if the latest reports are to be believed, Saab may not be dead just quite yet. Little known Swedish firm, National Electric Vehicle Sweden is said to be behind the latest bid to purchase Saab’s remaining assets for an undisclosed amount. But if previous speculation about GM shooting down Youngman’s billion dollar bid for Saab is true, then we can only imagine how much this new deal must be worth. If NEVS really has struck a deal to purchase Saab, then it’s likely the firm has ambitious plans to turn Saab into an electric automobile producer, to help inject some life into the brand. What’s very interesting about this latest bid is that NEVS is actually owned by none other than Karl-Erling Trogen, the man once behind the operations at Volvo Trucks. Although all of this sounds very promising, we have serious doubts that NEVS bid will be accepted if previous, unsuccessful attempted acquisitions are anything to go by.

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