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.

Thursday, April 12, 2012

Just-auto says three bids submitted

According to well informed and reputable English automotive industry news site just-auto and writer Simon Warburton, three bids were placed on the entire Saab bankruptcy estate by the deadline on Tuesday this week.

The three bidders are assumed to be Chinese vehicle manufacturer Youngman, Indian vehicle manufacturer Mahindra and a Japanese-Chinese consortium made up of auto industry suppliers.

In other words, those who have been hoping for an European car maker, possibly one based in Munich or Wolfsburg, your hopes could start to fade.

Just-auto reports that the bankruptcy administrators will use the next 10 weeks to evaluate the bids.