Having gone down the financial gurgler earlier this year after bouncing around from General Motors to administrators to Dutch niche sportscar maker Spyker NV in 2009, and then back to administrators last December, Saab looked like it would die a slow death.
Now a new electric vehicle (EV) orientated company, NEVS (National Electric Vehicle Sweden AB), set up by Hong Kong and Japanese interests has the Saab marque hooked up on the slab ready for reincarnation. Administrators haven’t disclosed the money involved.
"The Receivers are very pleased that the transaction involving NEVS and the bankruptcy estates, which all involved parties have intensely worked for over an extended period, is now complete," said Anne-Marie Pouteaux, Partner, Wistrand, Hans L. Bergqvist, Partner, Delphi, Receivers in bankruptcy for the Saab Automobile estate and Kent Hogglund, DLA Nordic, Co-receiver in bankruptcy for the Saab trademark and trade name rights.
"Engineering and development of our first electric vehicle has been underway for an extended period in China and Japan, and now, with the manufacturing facilities in our possession, we are able to continue development work on site at Trollhättan,” said Kai Johan Jiang, CEO, National Electric Vehicle Sweden AB.
NEVS is wholly owned by National Modern Energy Holdings Ltd., whose founder and principal owner is Kai Johan Jiang.
NEVS has signed a licensing agreement with Saab AB regarding the rights to use the Saab brand name for its future vehicles. The vehicle manufacturing company is named National Electric Vehicle Sweden AB, “NEVS”. The vehicles and related products and services will be named SAAB. The present logotype will not be used.
Recruitment to the management team and key positions at NEVS is in progress. As of today, about 75 people have received employment offers.