13/06/2012 Swedish carmaker SAAB is bought out of bankruptcy

Saab Automobile AB was a manufacturer of automobiles founded in Sweden in 1945. After struggling to avoid insolvency throughout 2011, the company petitioned for bankruptcy following the failure of a Chinese consortium to complete a purchase of the company; the purchase had been blocked by the former owner, GM, which opposed the transfer of technology and production rights to a Chinese company. It was subsequently bought out of bankruptcy by a newly formed company called National Electric Vehicle Sweden (NEVS).


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