Saab Successor NEVS Secures $12 Billion Electric Car Order from China
National Electric Vehicle Sweden has agreed to supply 250,000 electric vehicles to Panda New Energy, marking a major step in its post-Saab strategy.
National Electric Vehicle Sweden (NEVS), the company that took over Saab’s assets in 2012, has signed a $12 billion agreement to supply 250,000 electric vehicles to Panda New Energy, a Chinese leasing firm focused on zero-emission fleets.
The bulk of the order consists of 150,000 vehicles based on the Saab 9-3 sedan, reworked for electric propulsion. NEVS will build and paint the bodies at its Trollhättan facility in Sweden before shipping them to China for final assembly. The remaining 100,000 vehicles will be produced mainly in China, according to the company.
Panda New Energy, the customer for this deal, specialises in leasing zero-emission vehicles to chauffeured fleet operators in China. The agreement positions NEVS as a key supplier in a market where electric vehicle adoption is accelerating, supported by government targets for clean transport.
Production and jobs in Sweden and China
NEVS has said the Swedish plant will see hundreds of new jobs created to support the project. Bodies for the electric 9-3 will be manufactured and painted in Sweden, but final assembly will take place in China to meet local demand and logistics. The company’s plan reflects a hybrid production model, keeping core engineering and bodywork in Sweden while taking advantage of China’s scale for assembly and distribution.
For the Swedish workforce, the deal offers a rare boost after years of uncertainty following Saab’s bankruptcy. NEVS has previously indicated it would recruit engineers for its electric vehicle relaunch. For more on NEVS’s hiring plans, see Saab's New Owners to Recruit 200 Engineers for Electric Car Relaunch.
NEVS’s electric ambitions after Saab
Since acquiring Saab’s assets, NEVS has focused on transforming the historic brand into an electric vehicle specialist. Until now, the company’s output has been limited, mainly consisting of petrol-powered cars based on Saab’s last models. The Panda New Energy contract is NEVS’s first major electric vehicle production deal and marks a shift towards large-scale EV supply.
The scale of the deal underlines China’s rapid growth in electric vehicle demand and the country’s push to electrify fleet transport. NEVS’s move to secure a foothold in this market follows a wider trend of international firms partnering with Chinese companies to meet ambitious clean transport targets.
NEVS’s agreement with Panda New Energy is set to run over several years, with the first cars expected to be delivered after production ramps up. The company has not disclosed detailed technical specifications for the electric 9-3, but the new chassis is being developed specifically for electric drive.
For more on the strategy behind NEVS’s electric ambitions, see Asian Consortium Plans to Revive Saab as Electric Vehicle Brand.
