Good news on Saab

This from Bloomberg:  

Saab Gets New Life As Electric Vehicle Manufacturer

SustainableBusiness.com News

"In an interesting development, bankrupt automaker Saab is being sold to a group that will convert the brand into an electric car manufacturer, reports Bloomberg.

The new manufacturer, National Electric Vehicle Sweden, plans to offer the first vehicle for sale in China in 2013-2014, although manufacturing will be in Sweden at Saab's plant.

"We're striving to be a world-leading company for electric cars," says Mattias Bergman of National Electric Vehicle Sweden. "It's not only about China being a big market for electric cars, it's also about China having the ability to make the investments required and build the needed infrastructure."
Who bought Saab? Hong Kong-based National Modern Energy Holdings Ltd., which builds high efficiency biomass plants in China, and Sun Investment, a Japanese investment firm that focuses on high tech projects with environmental solutions. About six other firms made offers.
National Modern Energy owns 28 biomass power plants and develops technology for wind power, efficient energy storage and biofuel boilers. The company employs 7000 people.
Sun Investment, which is owned by private investors, banks and businesses, finances outstanding Japanese technology for high performance sustainable solutions, they say. It supports development of green technologies, such as renewable energy, energy storage and recycling. It wants to bring electric vehicle technology to the world market.
They plan to build on Saab's "long and proud history of sophisticated design and innovation and use it a a foundation for electric vehicles."
Bergman says they want to unite Swedish manufacturing and design skills with Japanese advanced technology and China's progressive initiatives in sustainable transportation solutions.

The electric car will be a new design based on Japan's cutting edge technology.
They see electric vehicles as crucial because China's oil demand would exceed world production if the country reached US vehicle penetration levels.
Saab hasn't been profitable for almost 20 years. GM bought the company in 2000 and sold it in 2010 to a Dutch carmaker. It filed for bankruptcy last December. "

We applaud more investment in EV's, and love seeing the once proud Saab name grace a new generation of innovative cars.  We wish them the very best success.