National Electric Vehicle Sweden (NEVS) has told a Swedish court that it is in negotiations with two Asian parts manufacturers.
The court petition, which was filed overnight, claims that one of these Asian original equipment manufacturers (OEMs) is willing purchase a majority shareholding in NEVS. This unnamed company is also prepared to provide monthly bridging loans worth up to five million euros ($7.3 million) until a final agreement is reached.
According to NEVS, the other Asian OEM is interested in forming a research and development joint venture. Although no details were given about what this joint venture would concentrate on, it’s probably safe to assume it will be related to electric vehicle drivetrains and components.
If both of these deals come through, the reconstituted NEVS will focus more of its energies on development work for other companies, as well as contract manufacturing for other car makers at its Trollhattan plant. The company has already begun marketing these services in the hopes of reassuring its suitors, as well as the courts, that it has a viable future.
In addition, NEVS is hoping to restart production of Saab vehicles, although that requires the company reacquiring rights to the Saab name, which it lost when it entered administration in August this year.
NEVS submission to the court argues that in the light of these developments, the court should extend the timeframe allowed for the company’s reorganisation until the end of February, 2015. The previous court-mandated reorganisation period expired on November 29, 2014.