China’s National Electric Vehicle Sweden, a joint venture company that owns the Swedish automaker Saab, has tried – and failed – to revive the brand at home, in Europe.
A few years back, NEVS was proudly announcing the restart of production of the older Saab 9-3 models as a way to spark interest in the defunct brand and then proceed to deliver newer models. But the luck struck out and the company had to file for protection against creditors and the short-lived production start became a memory. Now the automaker has just broken ground on a new automotive factory in the northeast China city of Tianjin, aiming to start production of electric vehicles there. NEVS announced an investment of 1.2 billion yuan ($200 million) to construct the factory, tasked to output up to 200,000 units per year. The company refrained from showcasing any details about the upcoming electric vehicles and it’s still unclear if they would even market them using the Saab brand name.
NEVS acquired the assets of the bankrupt Saab starting with 2012 and only managed to produce a few Saab 9-3 models in the traditional location of Trollhattan, Sweden. Last year production was stopped and the company filed for bankruptcy protection, while Saab AB, the Swedish defense firm that owns the rights to the Saab name, decided to disallow usage to NEVS. The new Chinese assembly facility is bieng backed through joint ventures with State Research Information Technology and Beijing Teamsun Technology Co.
Via Automotive News Europe