IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Saturday, August 20, 2011

Chinese deal on track for autumn approval

Marketwatch has a short notice that Saab's bank accounts in the Skandinaviska Enskilda Banken, which the bank froze earlier this week on request of the Swedish debt enforcement agency, can now once again be accessed by Saab. According to the bank, the freezing of the account was a mistake and has now been corrected.

Also in the short article a spokesman of Saab/Swedish Automobile has said that the approval of Chinese Zhejiang Youngman Lotus Automobile Co. and Pang Da Automobile Trade Co's investment in Saab's parent company Swedish Automobile is on track and a decision is expected this autumn.