NEVS – National Electric Vehicle Sweden AB mentioned at the beginning of this week that they have completed a deal to buy most of Saab’s assets but they will not be able to use the iconic griffin head logo. The deal was made after NEVS agreed with Scania and Saab’s defense and aerospace group not to use the logo but they still can use the Saab name from now on.
The completion of the transaction will speed up the process to start making electric cars which will be Saab’s main priority in the future. In a statement made yesterday by NEVS chairman Karl-Erling Trogen, the first EV will be launched in about 18 months and it will be based on the 9-3 model.
The new owner wants to make cars for China as it seems that the local authorities are spending a lot of money on EVs. It is important to mention that NEVS is owned entirely by National Modern Energy Holdings Ltd whose principal owner is Kai Johan Jiang, a well-known Chinese-Swedish businessman.
As a reminder, former Saab owner Spyker has decided to sue General Motors for $3 billion dollars, accusing GM of “unlawful actions” to avoid competing with Saab in China.