After months of reports from Saab’s bankruptcy filing up to the numerous bids from various auto companies for Saab’s remaining assets, the Saab saga is now virtually over. Saab has finally found new ownership under National Electric Vehicle Sweden or NEVS in short.
You could say that Saab will breathe once again but this time round it would not be as a producer of front- wheeled drive, turbocharged luxury cars. Instead it will be focused on electric vehicles.
The Chinese-Swedish group, National Electric Vehicle Sweden, is led by Hong Kong renewable energy power plant manufacturer National Modern Energy Holdings Limited and they have the financial backing from Japan’s Sun Investment. NEVS plans to develop and produce electric cars in Saab’s hometown of Trollhattan.
At a recent press conference, NEVS chief Karl Johan Jiang has confirmed that the group will use the Saab name and first NEVS Saab will be an electric vehicle based heavily on the existing General Motors developed Saab 9-3. From there onwards, the group plans to resume development of the Phoenix platform that was started when Saab was owned by Dutch company Spyker.
National Electric Vehicle Sweden plans to release the Saab 9-3 EV by 2014 and their first market target is China. The deal which NEVS signed with the bankruptcy court does not include the intellectual property rights to the 9-4x or 9-5, which both relies heavily on General Motors technologies. Just how much NEVS paid for the rights to the Saab name, factory, tooling company and the 9-3 architecture has not been disclosed.
Photo credit: Net Car Show
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