Its been confirmed that the remains of the Swedish motor brand SAAB who found themselves going bankrupt in December 2011 have been sold to Swedish electric vehicle manufacturer NEVS (National Electric Vehicle Sweden) for an undisclosed sum.
The owner of NEVS and its Chief Executive is Kai Johan Jiang who is a Chinese businessman who also has Swedish citizenship. The companies Chairman is the former head of the truck division of Volvo, so clearly, there is some expertise on board here.
The formal statement says “Nevs and the receivers of the Saab Automobile bankruptcy estate today signed a purchase agreement which covers the main assets of Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tools AB.”
Apparently, it’s going to be effectively a new start operation and will concentrate on development and production of electric vehicles.
Saab as we knew it, still has a network of authorised repairers in the UK and the GB has a new parts division to take care of the cars which are still out there.
So maybe it’s not the end of the SAAB brand, but “its life Jim, but not as we know it”.