The Saab brand has officially been sold to National Electric Vehicle Sweden (NEVS). The electric vehicle consortium sparked rumours of the sale by publishing the following statement on its website earlier this week: “SAAB Automobile, Trollhattan and Sweden stands for innovation and technology excellence. At SAAB Automobile, the engagement for future transportation solutions is pervasive.”
This morning, the City-Director of Trollhattan Annika Wennerblom revealed that the final details of the Saab sale have been confirmed. The electric car consortium is believed to have bought the whole firm, excluding Saab parts, and is expected to start producing hybrid cars at Saab’s Trollhattan factory.
It’s been a troubled few years for Swedish automaker Saab; first Victor Muller stormed in and saved the firm at the last minute after GM decided to pull the plug. Then the 9-5 was launched to diluted applause, the 9-4X debuted in America and the UK arm’s sales were on the up. Then Saab ran out of money, failed to pay its parts suppliers and stopped manufacturing cars back in April 2011.
Since then Muller strived to rescue the firm with Chinese backing, but that also failed and by the end of 2011 Saab was placed into administration. BMW showed interest (having agreed a deal to supply petrol engines for the forthcoming 9-3) while Chinese maker Youngman and Indian manufacturer Mahindra fought it out in the headlines to be the best suitor for saving Saab.