News Summary: China tycoon leads deal to buy Saab

Associated Press

THE BEIJING CONNECTION: An Asian group trying to rescue Swedish automaker Saab Automobile from insolvency is led by a mainland Chinese alternative energy tycoon whose company has close ties with China's State Grid electricity utility.

THE BIG PICTURE: Staying close to Saab's car making assets could help bring the huge, state-owned utility a step closer toward its long-sought goal of breaking into the electric vehicle market.

BUILDING A FOUNDATION: State Grid is the main driver behind installing the charging stations and other infrastructure required to support electric vehicles. It has experimented with electric buses but lacks automotive technology.

View Comments (0)