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NEVS loses rights to build EVs with Saab brand name, continues with big growth plans

Saab 9-3 Aero Sedan

Saab AB, the Swedish aerospace company that owns the Saab brand, won’t allow its name or logo to be used on cars produced by National Electric Vehicle Sweden (NEVS), the Chinese-backed firm that bought the assets of bankrupt Saab Automobile in 2012.

“We have revoked their right to use the brand name,” and the matter is closed, Saab AB spokesman Sebastian Carlsson told Automotive News Europe. NEVS now plans to sell electric 9-3s under a new brand name appropriate for the Chinese market.

The company doesn’t seem to be “sobbing” about the loss of its Swedish mojo: it recently announced two big deals to supply electric sedans to Chinese companies, as well as plans to build a new factory and hire hundreds of new staff.

In December, NEVS announced a strategic collaboration with the Chinese company Panda New Energy, under which it will provide Panda with 150,000 9-3 electric sedans through the end of 2020. The total value of the agreement is about $12 billion.

NEVS will also deliver 20,000 9-3s to China Volant Industry (Volinco) between 2017 and 2020 in a deal worth about $996 million.

But wait, there’s more! NEVS will acquire a 50% stake in Chinese vehicle manufacture New Long Ma (NLM), which produces an electric commercial van that has sold more than 12,000 units.

“This deal broadens our product portfolio with an additional vehicle type which contributes to our vision of sustainable transport solutions,” said Chairman Kai Johan Jiang. “The deal is of significant strategic importance to implement our business plan and this will speed up our time to market.”

 

Source: Automotive News, Green Car Congress

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