SAAB owner National Electric Vehicle Sweden (NEVS) has released more details about the factory they plan on building.
The initial announcement was made towards the end of May and now NEVS says the factory will be located in Tianjin, southeast China where they plan on making only electric vehicles. Upon completion, the plant will have a maximum output capacity of 200,000 cars per year, but obviously it will take a while until it will reach its full potential.
To set up the plant, it will require a massive 1.2 billion yuan (about $193 million) investment and at this point it's not known which exact models will be made and whether these will carry the SAAB badge, but it's hard to imagine they will use something else.
We should add NEVS recently established joint ventures with State Research Information Technology and Beijing Teamsun Technology Co, with the former promising to invest 1 billion yuan ($161 million) while the latter will inject 200 million yuan ($32.2 million). If we do the math, it's the exact amount of money necessary to open up the new factory.