Saab Auto Asset Owner Plans Swedish Output, Seeks China Site
- NEVS has orders for about 300,000 of its planned electric car
- Company is talking to investors for first fundraising round
Saab vehicles are seen in the staff parking lot for Saab factory workers at the company's automobile plant in Trollhaettan, Sweden, on Monday, Dec. 19. 2011.
Photographer: Erik Abel/Bloomberg
The Chinese owner of the former Saab Automobile plans to make electric cars at the iconic brand’s Swedish factory as it seeks to take advantage of global interest in clean-fuel vehicles.
National Electric Vehicle Sweden AB, which bought the remnants of the Swedish carmaker after it went out of business, will make electric vehicles at the plant in Trollhattan under its own NEVS brand in the second half of next year, Chairman Kai Johan Jiang said. With growing demand for battery-powered vehicles, NEVS is also talking to municipal governments including those in Shanghai, Hangzhou and Chengdu about setting up its second factory in China, and is looking into the possibility of a plant in Turkey.