The people behind the possible purchase of Saab automobile used to be Volvo advisers

Tuesday, 12 June 2012
As the dust of the sale of Saab automobile is gradually settling, those in the fore of the game are beginning to be identified.
The company that bought the company is said to be Electric Vehicle Consortium, National Electric Vehicle Sweden (Nevs). Behind the consortium is 47-year-old Swedish-Chinese businessman, Kai Johan Jiang Swedish media reports say.

As early as last week end, it was also reported that the other Chinese company, Youngman which had pursed Saab for almost two year now returned with a more improved bid. We have not yet heard whether their improved bid has had any impact on the possible reversal of the sale decision to Nevs.

Nevs is reported by Swedish business daily to have been formed as recently as May this year with a single purpose, to buy Saab's bankruptcy estate. The company is owned 51 percent by the Swedish-Chinese businessman Kai Johan Jiang, who now will be president in Nevs, and the remainder is owned by the Japanese investment company Sun Investment.

Nevs bid is said to have been at Skr1.8 billion, excluding the Swedish Debt Office's requirement of Skr2.2 billion pledge by Saab Automobile Parts, a subsidiary of Saab automobile

Kai Johan Jiang, born 1965, worked for seven years in the 1990s as an advisor to Volvo Trucks' former CEO Karl Erik Trogen, who now is chairman of Nevs.
"He is both a visionary and a man of action. He is fast and sometimes it's hard for me to follow him, "Karl Erling Trogen described Kai Johan Jiang in an interview with China Daily.
In 2002 Kai Johan Jiang changed tracks and decided to sustainable energy future. He founded in 2004 its Chinese Dragon Power, today State Power Group, a green power company which is active in ethanol production, wind power and combined heat and power from biomass.

In 2007 Dragon Power was in acute liquidity crisis. According to the newspaper China Daily Kai Johan Jiang succeeded to convince Citigroup to provide a loan of $150 million by telling about his childhood in poor rural areas of Shandong province south of Beijing and the Chinese farmers could be a winner on his bio fuel factories.

"He is very socially competent and it is easy to like him, "Karl-Erling Trogen said.
In addition to their Chinese company Kai Johan Jiang is also a major shareholder in NBE Sweden, who want to build an ethanol plant in Härjedalen.

In 2008 he was awarded the prize of entrepreneurship - Emerging entrepreneur of the Year by Ernst & Young in China.
"I think an entrepreneur should be practical, collaborative and economical. A company must be practical and work within their abilities, seek cooperation with others and remain frugal, whatever its size, "he said to the newspaper China Daily when he was asked how he interprets entrepreneurship.

He adds that Standards and norms should be in place from the beginning to avoid future collapse.

The Swedish business daily Dagens industri reports that, according to Chinese sources, the electric vehicle consortium Nevs, has won the game on the Saab.
Nevs consortium is said to have already agreed with the Swedish government about buying Saab's bankruptcy estate. According to the Chinese sources, a press conference to talk about the purchase is planned.

Youngman which is reported to have offered more bid of over Skr4 billion is relying on the Chinese authorities to give it the green light for a payout, the paper writes.
The Swedish Saab bankruptcy administrator deemed this to be a slow business and decided to move on with Nevs.
By Scancomark.se Team