National Electric Vehicle Sweden (NEVS), the successor to the Saab brand, has formed a strategic collaboration with the Chinese company Panda New Energy, under which NEVS will provide Panda with 150,000 9-3 electric sedans through the end of 2020, as well as other EV-related products and services. The total value of the agreement is 78 billion RMB ($12 billion).

Panda New Energy is a vehicle leasing company that focuses on low-emission vehicles and works with various chauffeured car services in China.

“This is a strategic collaboration for NEVS not only in terms of the numbers of vehicles, but it is also an important step to implement our vision and new business plan. In the long term, we want to provide our customers with both sustainable products and mobility services,” said Stefan Tilk, Vice Chairman of NEVS.

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Source: National Electric Vehicle Sweden