The deal to give bankrupt Saab a new future as an electric car maker has been finalised.
The buyer, National Electric Vehicle Sweden AB (NEVS)- a joint venture between China's National Modern Energy Holdings and the Japanese fund Sun Investment-has confirmed that the new Saab will start production of electric cars in 2014.
Sadly, the new electric cars, based on Saab models, will not be able to use Saab’s distinctive griffin’s head logo (pictured). The first model is expected to be based on the technologies used to produce the 9-3 and will launch within the next two years.
Saab and NEVs did not disclose details of the transaction that helped rescue the carmaker from bankruptcy.
Saab went into administration last December after struggling to secure long-term investment since it was sold off by GM in 2010. Although sports car brand Spyker bought the firm in early 2010, it soon hit financial problems, with the administrators called in just a year later.
The new buyer, NEV is headed by former Volvo Trucks chief, Karl-Erling Trogen.
Faye has been writing about cars and environmental issues since 2007. A suspected eco-warrior working on the corporate inside, Faye mainly likes the weird, quirky vehicles that show a distinct environmental advantage. Her ideal car has enough room to fit a bale of hay in the boot. When not working, she likes nothing better than to head out on her bicycle and explore the countryside.
September 04, 2012
Filed under: Saab
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