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Sale of Saab Auto Could Save the Company-And the Planet

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National Electric Vehicle Sweden (NEVS) has made arrangements to purchase the bankrupt Saab Automobile and convert it into a top manufacturer of electric cars.

Saab filed for bankruptcy in December 2011 after halting production last March.  The Chinese-Japanese investment group consisting of Hong Kong-based National Modern Energy Holdings Ltd. and Japanese investment firm Sun Investment hopes to turn Saab productivity into profitability in Sweden and Norway, where electric cars have become more popular.

Bloomberg.com talks in more detail about the purchase and hopeful future for Saab.