National Electric Vehicle Sweden (NEVS), the owner of the assets of Saab Automobile, has signed a deal with China’s Panda New Energy Co. that will see it deliver 150,000 Saab 9-3 EVs to the company by the end of 2020.
The agreement, which will also see it deliver 100,000 other electric vehicle products and services from companies associated with NEVS and its owners, is worth 68 billion yuan ($17 billion) to NEVS.
The deal will go a long way to shoring up NEVS’ plan announced earlier this week to release four all-new electric vehicles – a compact SUV, a mid-sized crossover, a mid-sized SUV, and a mid-sized fastback – in 2018.
“This is a strategic collaboration for NEVS not only in terms of the numbers of vehicles, but it is also an important step to implement our vision and new business plan,” NEVS vice chairman Stefan Tilk said.
Panda New Energy is a new-energy leasing company with a focus on low-emissions mobility solutions that is aiming to become one of the biggest EV leasing businesses in the world.