National Electric Vehicle Sweden AB—a Chinese-Japanese investment group—agreed to buy Saab Automobile and convert the bankrupt Swedish manufacturer into a maker of electric cars.
Saab would be entering a market that includes the Chevrolet Volt, made by former owner General Motors Co., and Fisker Automotive Inc.'s $103,000 Karma hybrid gasoline-electric sports car.
As an aside, the story authors are pretty bad. They talk about Volt fires "The country's National Highway Traffic Safety Administration is looking into the safety of lithium-ion batteries amid instances of fires involving the Volt and the Karma." and the article is June 13!!!