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Saab’s real estate is back for sale as the Chinese giant Evergrande is struggling

The seemingly endless story of Saab went in another unexpected direction. The China-based Evergrande Group is trying to sell or seduce investors to National. Electric car Sweden (NEVS), the unit that owns Saab’s assets, is struggling to get out of the financial rut.

Evergrande Purchased the dominant share of NEVS Early 2019 as part of a diversification campaign Recently backfiredIt also poured a fair amount of money into Faraday Future.According to, its debt is over $ 300 million ReutersTherefore, selling some or all of NEVS may solve this problem. Executives haven’t disclosed the value of the automaker, according to anonymous sources. Reuters It can be worth up to $ 1 billion, but company boss Stefan Tilk said some investors (including venture capital and industrial partners) are already interested. Official details such as who these companies are not available.

Much more at stake than Evergrande’s creditors: NEVS is likely to collapse without major investment or sale. According to the same report, about half of the 650 employees were dismissed in August 2021 and submissions to the stock exchange indicate a lack of funds.

What happens next depends largely on what the people investing in and buying NEVS are thinking. The company purchased Saab’s assets in 2012, including a factory in Trollhättan, Sweden, but is struggling to revive the brand.Not specifically allowed to use Griffin logo..It built a handful Electric car, favorite Updated and electrified version of Saab 9-3, But it has never started mass production.One of its most promising and reliable projects Joint venture with Koenigsegg But partnership Melted quietly September 2021.

NEVS seemed to be paying attention to the crowded autonomous shuttle market before it fell into dire financial difficulties. Announced in July 2020 A box-shaped prototype called coral (Photo) It was planned to start transporting passengers in Stockholm, Sweden in 2022. The place where the project launches is in the air, but it can be one of the most valuable and viable parts of the company.

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Saab’s real estate is back for sale as the Chinese giant Evergrande is struggling

Source link Saab’s real estate is back for sale as the Chinese giant Evergrande is struggling

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