Another Asian firm to replace NEVS as maker of Saab car

China’s National Electric Vehicle Sweden (NEVS), which rescued iconic car brand Saab from bankruptcy in 2012, is getting a new owner also from Asia, according to documents from the District Court. The company has yet to be announced. saab93

NEVS, which last year resumed low-volume production of the Saab car, currently does not have enough cash to pay outstanding debt.

On December 1, NEVS applied for extension of time for the reconstruction of the company that began in August, according to Swedish Radio. The Asian company signed a letter of intent with NEVS on November 30 and must be willing to step in as a new owner. NEVS’ board has not yet made its final decision.

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