The ownership structure of NEVS, the owner of the failed Saab, was extended by a Chinese group, which could finally provide the necessary resources to start production.

The Saab brand has been a part of automotive history for quite some time, but the economic crisis, that erupted in 2008, further deepened the problems that began to accumulate in the years before. The automotive part of the brand was finally closed in 2010. The first ray of hope came in 2012, when the failed Saab automobile department was bought by a new Chinese-owned Swedish company NEVS (National Electric Vehicles Sweden). But unfortunately promises of new electric cars were followed only by the construction of the factory, but not the cars themselves.

The Chinese project could now finally get a continuation. After a long search for an investor to help carry on the electric car project, the Chinese company Evergrande has entered the ownership structure of NEVS AB. They bought a majority stake of 51% from the NEVS founder Kai Johan Jiang and the parent company NE Holding and brought a much needed financial injection. So there are hopes for the future of Saab.

Jan. 18, 2019 Driving photo: NEVS

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