Saab becomes the electric car automaker which was secured as the iconic Swedish brand after it was saved by Asian investors. National Electric Vehicle Sweden (NEVS), headed by entrepreneur Kai Johan Jiang and backed by Asian investors outlined the intention to launch its first electric vehicle based on the current Saab 9-3, in 2014, and plans to develop new models using Japanese technology.
NEVS will initially focus on the developing electric vehicle market in China. Jiang said the exponential growth of the Chinese economy meant more and more of its population could afford cars but they would not be able to drive petrol fuelled vehicles.
Jiang said in a statement: “China is investing heavily in developing the EV market, which is a key driver for the ongoing technology shift to reduce dependence on fossil fuels,” and also “Chinese customers demand a premium electric vehicle, which we will be able to offer by acquiring Saab Automobile.”
Karl-Erling Trogen, the chairman of NEVS says that: “I am delighted that we can build on Saab Automobile’s skills in vehicle design and production to start a new future-oriented venture in Trollhättan, where world-class manufacturing facilities are available,” and also he added that: “Electric vehicles powered by clean electricity are the future, and the electric car of the future will be produced in Trollhättan.”
Chinese market means a lot for investors and Saab takeover by Chinese investors is a strong sign that they will build and sell electric car all over the world and mostly in China.