The Deal Between NEVS and Saab is Complete

By Logan Utsman on Monday, September 3rd, 2012

Earlier in the summer, a Chinese-Japanese investment company made the move to purchase the quietly sleeping Saab brand. Overseen by a joint venture, the recently formed National Electric Vehicle Sweden (NEVS) went ahead and took the plunge but suffered a few set backs along the way. At the first of August, the outfit missed the deadline to complete the transaction but the deal was granted some extra time. Now, that time is up and finally, things seem to have been worked out so that Saab can be a company again.

With the delays in the past, NEVS can now concentrate on bringing Saab back to life. According to an Autoblog article, the company is looking to debut a vehicle in about 18 months. The car will be based on the 9-3′s front wheel drive platform but instead of a howling turbocharged engine, it will be motivated by an electric motor. NEVS will be responsible for the drivetrain and the car is expected to be aimed mainly at the Chinese market. With the big details still in the future, what is for certain is the vehicle will not have the familiar “griffin” badge as that was not included in the deal. Strange.

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Saab Pictures