NEVS Finalizes Saab Acquisition, Will Focus Solely On Electric Vehicle

National Electric Vehicle Sweden AB (NEVS) has completed its acquisition of Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tools AB. The deal was first announced back in June.

‘The efforts to implement our business plan can now be multiplied, focused on the development of a world-class electric vehicle,’ says Karl-Erling Trogen, chairman of NEVS.

‘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,’ adds Kai Johan Jiang, NEVS' CEO.

The company says it is planning on debuting a Saab-branded electric vehicle that is based off the 9-3 platform in 18 months.

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