NEVS to build about 150,000 Saab 9-3 Sedan EVs for a Chinese leasing company image

The successor to Saab has announced it signed an agreement to build around 250,000 electric cars for a Chinese leasing company.

The consortium that bought bankrupt Swedish automaker Saab has said it signed a massive 12-billion-dollar contract for an order for electric cars for a Chinese leasing company. According to the agreement, National Electric Vehicle Sweden (Nevs) will produce and provide 150,000 cars based on 9-3 sedan electric vehicles until the end of 2020. In addition, the deal includes 100,000 other EV products and services from companies associated to Nevs and its owners. The Swedish holding company said it would swiftly hire hundreds of workers in the country to start building the cars for Panda New Energy, a Chinese firm which intends to lease zero-emission vehicles to chauffeur-driven fleets.

Those based on the Saab 9-3 compact sedan will have a new chassis for electric drive, with bodies built and painted in Sweden and sent to China for final assembly. Nevs bought the assets of the bankrupt 70-year-old Swedish automaker in 2012 with the aim of transforming it into a leading global producer of electric cars. It exited corporate reorganisation procedures in April.

“This is a strategic collaboration for Nevs not only in terms of the numbers of vehicles, but it is also an important step to implement our vision and new business plan,” Nevs Vice Chairman Stefan Tilk said in a statement. “Cooperating with many chauffeured car service platforms in China, Panda aims to become one of the biggest electric vehicle leasing companies in the world,” Nevs said of its customer.

Via Reuters