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Saab to live on as electric car manufacturer

The Saab 9-3 ePower, a prototype electric test vehicle.
(Credit: Saab)
The show’s not over for Saab. An investment group agreed to buy the Swedish automotive manufacturer and plans to build electric cars for the Asian market, according to an article in the Detroit Free Press.
Saab’s savior is a Chinese-Japanese investment group, whose key player is energy tycoon Kai Johan Jiang. Jiang founded the alternative energy supplier National Bio-Energy Group in China, and his other company, the National Modern Energy Holdings, owns 51 percent of National Electric Vehicle Sweden AB, the company set up to buy Saab, according to BusinessWeek. The remaining 49 percent of National Electric Vehicle Sweden is held by Sun Investment, a Japanese company that plans to bring technology to the table to help build Saab’s electric line


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