An electric car consortium involving the former Volvo Trucks head Karl-Erling Trogen is reportedly the lead bidder to buy the assets of the bankrupt Swedish car giant Saab out of administration.

Youngman, the Chinese car company which tried to buy Saab through talks with Viktor Muller, the Dutch entrepreneur behind Spyker Cars, has reportedly dropped out of the process.

Not much is known about the company except its name, National Electric Vehicle Sweden, which was approved on Monday by Sweden’s company registration office.

The company reportedly has the backing of a Japanese-Chinese consortium, with 245 of its 500 shares owned by a company called Sun Investment, and 255 held by Mikael Kubu, the President of Ac-Gruppen, a law firm based in Gothenburg.

“We have a very anonymous investment company that owns shares in this registered company, Sun Investment, but we still don’t know who’s behind it,” said Valdemar Lonnroth, a journalist at TTELA, the local newspaper in Trollhattan, Saab’s home town. “We don’t know if it’s a Chinese or a Japanese company behind this conglomerate. Nobody has really a picture of what kind of resources they have or what their intentions are, besides the fact that they want to produce electric vehicles.”

Saab’s liquidator, Hans Bergqvist, would not comment on the reports. "We are in an intense period and we're not commenting on the sale process," he told Sweden’s TT news agency.

GM, Saab’s former owner, has said it is not negotiating with any prospective buyers over licensing key technology, while around 1,000 former Saab employees have already found work since the factory closed.

Richard Orange