/ Industry, News, Saab / Saab owner signs investment deal with Chinese city of Qingdao

Saab owner signs investment deal with Chinese city of Qingdao

Linked In Share
Saab owner signs investment deal with Chinese city of Qingdao

National Electric Vehicles Sweden AB (NEVS) has signed an investment deal with the Chinese city of Qingdao in order to build and sell EVs in the country.

NEVS is a Chinese-controlled company that has bought most of Saab’s assets after the Swedish company went bankrupt.

According to a statement from NEVS quoted by Reuters, the deal involved a plan for Qingdao, via its Qingdao Qingbo Investment company, to invest 2 billion Swedish crowns ($307.3 million) in NEVS, getting in exchange 22 percent of the shares. A spokesman for NEVS could not provide further details on when the transaction would take place.

NEVS has said it aims to launch its first electric car at the beginning of 2014 and is also considering re-launching the old Saab 9-3 model with a conventional engine. The company plans to ship cars from Sweden to Qingdao port and eventually build a factory in Qingdao, when it will reach full capacity at the former Saab plant in Sweden.

NEVS is looking to make cars for the Chinese market as authorities there are investing heavily in electric vehicles. NEVS is wholly owned by National Modern Energy Holdings, founded and owned by Chinese-Swedish businessman Kai Johan Jiang.

by Dan Mihalascu (my Google+) - Tuesday, January 8th, 2013 - filed under Industry, News, Saab. Image credit: .
Linked In Share
Related Articles
china chinese market electric vehicles EV kai johan jiang National Electric Vehicles Sweden National Modern Energy Holdings nevs Qingdao Qingdao Qingbo Investment reuters Saab saab 9-3 saab electric saab electric vehicle saab owner saab plant


Discuss: Saab owner signs investment deal with Chinese city of Qingdao

Leave a Reply















Inautonews Facebook PageInautonews RSS FeedInautonews TwitterInautonews Youtube Channel

Sign up to receive our email newsletter on your email. It's safe. No spam!

Teams could seek Fric clarification – Force India
Teams could seek Fric clarification – Force IndiaJul.16 (GMM/Inautonews.com) The big question ahead of Hockenheim is whether any team will lodge a protest against rivals running ...
Ecclestone ‘upset’ with witness on Wednesday
Ecclestone ‘upset’ with witness on WednesdayJul.16 (GMM/Inautonews.com) According to an observer reporting for the Austrian press agency APA, Bernie Ecclestone was "visibly ...
Smooth sailor Rosberg feels sorry for Vettel
Smooth sailor Rosberg feels sorry for VettelJul.16 (GMM/Inautonews.com) Nico Rosberg is having a good week. Already leading the world championship, the German got married, ...
MINI One Hatch arrives in Australia
MINI One Hatch arrives in AustraliaMINI has introduced the brand new One Hatch in Australia where the model in question has been priced from 24,500 AUD for the base ...
Rossi one of many departures at Caterham
Rossi one of many departures at CaterhamJul.16 (GMM/Inautonews.com) Alexander Rossi is just one of many departures at Caterham this week. 22-year-old Californian Rossi ...
Italy – Kia Venga Crossover Limited Edition introduced
Italy – Kia Venga Crossover Limited Edition introducedThe South Korean based automaker Kia has officially introduced a new special edition of the Venga, called the Crossover Limited ...
New-gen Smart ForTwo and ForFour leaked in first images
New-gen Smart ForTwo and ForFour leaked in first imagesThe new generations of the Smart ForTwo and ForFour have recently leaked out in the first official images which have ended up on ...
[VIDEO] POV drive of BMW M3 on Spa Francorchamps
[VIDEO] POV drive of BMW M3 on Spa FrancorchampsA new POV video is showing the new generation of the BMW M3 Sedan being driven fast on the Spa Francorchamps. Automotive ...
Audi R8 TDI might come in 2017
Audi R8 TDI might come in 2017The German based automaker Audi is preparing to introduce its first ever diesel supercar, the R8 TDI, over the next few ...
[VIDEO] Lamborghini Aventador and Ferrari F50 spotted cruising together
[VIDEO] Lamborghini Aventador and Ferrari F50 spotted cruising togetherA Lamborghini Aventador and a Ferrari F50 have been recently spotted cruising together and attracting a lot of attention. One of ...
Recall roundup: Lotus Elise, Exige and Evora S Coupe
Recall roundup: Lotus Elise, Exige and Evora S CoupeLotus has announced a recall for the Elise, Exige and Evora S Coupe because of some problems with the faulty oil cooler ...
US buyer has first “lemon law” victory over Tesla
US buyer has first “lemon law” victory over TeslaA Wisconsin doctor, who had major issues with his Model S luxury sedan, scored a disputed win over the California-based company, ...
Nissan Murano CrossCabrio to be discontinued
Nissan Murano CrossCabrio to be discontinuedThe Japanese based automaker Nissan will pull the plug on its weird convertible SUV, the Murano CrossCabrio, after the 2014 model ...
GM senior counselor admits to staff failure
GM senior counselor admits to staff failureMichael Millikin, the chief lawyer for General Motors, admitted that under his watch some employees from his department failed to ...
Cadillac CTS-V gets spied on the Ring
Cadillac CTS-V gets spied on the RingThe top of the line version of the Cadillac CTS, the CTS-V, has been recently spotted while it was being tested out on the ...
Read more automotive news


2013 Frankfurt Motor Show Live Images

Mini-One_australia 1
Kia Venga Crossover Limited Edition 1
2015 smart fortwo forfour 1
Spied Cadillac CTS-V 01
Spied Cadillac ATS-V 001
Ferrari 458 Italia Niki Lauda 1
2015 smart fortwo sketch teaser 1
Spied Ford Mustang SVT 001
lamborghini huracan arrow tuning duke dynamics 1
Aston Martin V12 Vantage S Roadster 2
Porsche 911 Turbo S GB Edition 1
Spied VW Touran 01

More automotive from inautonews
MINI has introduced the brand new One Hatch in Australia where the model in question has been priced from 24,500 AUD for the base entry-level version. The cheapest ever car sold by MINI in Australia, under the BMW guidance, is the new MINI One Hatch. The model in question will set you back for at ...
read more
Inautonews Editors Section
F1: Silverstone 2014, British Grand Prix preview
F1: Silverstone 2014, British Grand Prix preview"The key to a quick lap around Silverstone is a car that remains stable during direction changes, and one that is aerodynamically stable, because ...
What happened to Mitsubishi?
What happened to Mitsubishi?Mitsubishi Motors Corporation (MMC) used to be one of the biggest carmakers out there with models copied out eventually by the competition but it ...
F1: 2014 Austrian GP review
F1: 2014 Austrian GP reviewNico Rosberg's victory was a cold shower for many, despite the fact that Mercedes needed to work harder than at any other race this year. Some fans ...

Editors Section
Inautonews Editors Section
2012 Safest Cars list 2011 Safest Cars [Video] 2011 IIHS Safest Cars [Video] 2011 EuroNCAP Safest Cars 2010 Safest Cars [Video]

Latest in Safety Recall roundup: Lotus Elise, Exige and Evora S CoupeLotus has announced a recall for the Elise, Exige and Evora S Coupe because of some problems with ... Recall roundup: 2015 Hyundai SonataHyundai has recently issued a recall for the recently unveiled 2015 Sonata because of a problem ...
Safety Section