Saab brand has been saved again. This time by a company called National Electric Vehicle Sweden (NEVS), that has not much to do with Sweden, except the location as it is a Japanese and Chinese consortium.
NEVS has acquired the “main assets” of Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tools AB. For unknown reasons, the new owner did not obtain the intellectual property rights for the Saab 9-5 which are still held by General Motors.
The new company will dedicated to the development and manufacturing of electric vehicles and their first model will be based on the Saab 9-3, with production to start in late 2013 or early 2014. New Saab will focus on the Chinese market, though the plan is to sell cars internationally.