Saab to be reborn as electric vehicle manufacturer?

Jay Nagley

A multinational joint venture has bought the assets of bankrupt Saab, and says Saab will become an electric vehicle manufacturer.

The new company, National Electric Vehicle Sweden, (NEVS) is a consortium of National Modern Energy Holdings of China (the largest shareholder) plus Japanese and Swedish interests. The idea is to make an electric version of the 9-3 by 2014 in Saab's Swedish factory. The technology will mostly be Japanese, but the main target market will be China.