Saab

NEVS (National Electric Vehicle Sweden) and Koenigsegg will also form a joint venture company "to expand into new market segments". NEVS will contribute €150 million ($238 million) in starting capital for the new firm and hold a 65 per cent stake. Koenigsegg will own the rest of the company by contributing its "intellectual property, technology licenses, and product design".

New Electric Vehicle Sweden (NEVS) has officially conceded defeat in its battle to regain rights to the Saab name for use on its cars. Overnight, the Chinese-backed car maker announced that from 2017 it will begin producing vehicles based on the Saab 9-3 platform, including an electric vehicle.

National Electric Vehicle Sweden (NEVS), the owner of the assets of Saab Automobile, has announced plans to release four all-new vehicles in 2018. Speaking at Sweden’s largest annual automotive conference, Stora Bildagen, NEVS president Mattias Bergman revealed the company’s intention to launch its first electric vehicle based on “significantly upgraded” Saab 9-3 technology in 2017 before introducing four new models based on Saab’s EV-optimised Phoenix platform the following year.

The new owner of Saab has been forced to halt vehicle production after running into financial trouble. The Chinese company National Electric Vehicle Sweden (NEVS) - which restarted production of the Saab 9-3 in Trollhattan, Sweden, last year after acquiring the bankrupt car maker - confirmed overnight a "short-term cash problem" meant it needed to temporarily idle its operations.

New Saab owner National Electric Vehicle Sweden (NEVS) has reportedly re-opened the former Swedish brand's Trollhattan factory that shut its gates in April 2011 prior to the company filing for bankruptcy later that year. According to a report by Swedish publication Aftonbladet, NEVS – a consortium comprising a Chinese renewable-energy powerplant builder and a Japanese investment firm – has 180 employees at the plant working on test manufacturing.