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Saab successor Nevs signs a $12 billion deal to make 150,000 EVs for China


National Electric Vehicle Sweden, also known as Nevs, bought Saab’s assets out of bankruptcy in 2012. Yesterday, the company announced a massive 78-billion-yuan ($12 billion) deal to supply 150,000 electric cars to Chinese leasing firm Panda New Energy.

Nevs will produce an electric version of the Saab 9-3 4-door sedan (picture above) for the deal with Panda. As of now, not much is known about the specifications of the electric drivetrain of the 9-3 EV.

The company aims to deliver the vehicles by the end of 2020.

Panda New Energy is a vehicle leasing company with focus on low emission mobility solutions. Cooperating with many chauffeured car service platforms in China, Panda aims to become one of the biggest EV leasing companies in the world.

Nevs is expected to hire “hundreds” of new workers in order to fulfil its new contract, which is good news for the company that appeared to be moving sideways for the past few years.

Nevs is still based in Sweden, but China has a lot of interest in the company. It is co-owned by the National Modern Energy Holdings, Tianjin Binhai Hi-tech industrial Development Area (THT), and the Beijing State Research Information Technology Co., Ltd. (SRIT).


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