Saab resurrected to build electric 9-3 ePower for China
The quest to rescue the Saab brand has fallen upon a consortium of Chinese, Japanese and Swedish investors, with the launch of a new company, National Electric Vehicle Sweden AB (NEVS). The company's first goal will be to resurrect the Saab 9-3, as an electric car, targeting it for sale in China because of strong demand for electric cars in China.
As rumored a couple weeks ago (see: SAAB Could Become An Electric Car Company and Electric vehicle company may have purchased Saab), NEVS has agreed to buy, for an undisclosed price, the bulk of the assets of Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tools AB. An earlier deal had been scuttled by GM over ownership of patents and technology, and as a result the current deal does not include Saab Automobile Parts AB, as well as intellectual property rights regarding the Saab 9-5. The new company will own the Saab brand name, trade marks, trade names, and other branding. NEVS will be headquartered in Trollhattan, where development and production will be focused on electric cars.