Saab Purchased By Joint Chinese-Japanese Investment Firm

Saab enthusiasts rejoice, and those of us who have covered this corporate drama take a collective sigh of relief: the Saab drama is over. At least this chapter of it. The Saab brand has been purchased (finally) by a Chinese-Japanese consortium focused on electric vehicles.

The bankruptcy administrators said previously the decision would be announced “before summer.” and with summer beginning on June 20th they have followed through with that promise. The purchase was made between two companies, Chinese National Modern Energy Holdings and Japanese Sun Investment, LLC. The result is called National Electric Vehicle Sweden AB. Forgive us if we aren’t jumping up and down (cynical, we know). We’ll have to see some results before we proclaim Saab as being “back.”

The purchase includes development rights to the Pheonix 9-3, as well as the Trollhattan factory. 9-5 and 9-4X aren’t included, and neither does there appear to be any plans for gasoline or hybrid vehicles. The resulting company wants to focus on the Chinese market, and the plan calls for continued production in Trollhattan. NEVS says that engineers, designers and executives are being recruited as we speak. The first car to go on sale will be an electric version of the 9-3.

So, it looks like the Pheonix-developed and Castriota-penned 9-3 may see the light of day after all. We aren’t completely convinced this company has the resources to pull it off though, or if focusing on electric vehicles only is the right plan. There are also a lot of questions, such as what happens to the dealer body? With the next-generation 9-3 not going on sale until 2014, there won’t be any to speak of. As far as organization, Saab is a shell of its former self – the pieces of the company unwanted by NEVS will go through liquidation. As far as parts, Saab Automobile Parts AB will be taken over by the Swedish government. That will ensure continuity for existing Saab owners. We’re glad to see the Saab name live on though and hope that maybe this time it will find some success.

About The Author

Tony Pimpo is a young automotive journalist who lives in Northern California. He believes the future of the automotive industry will depend in a large part on the recommendation of enthusiasts and Generation Y. More than ever, automakers lately have realized the power of Gen Y. Not only in regards to buying power, but in driving opinion and spreading a brand’s message through the internet and various forms of social media. His appreciation for cars formed at an early age, thanks to his dad, who has always been involved with cars in different ways over the years. Tony has contributed to various websites in his pursuits, and is on staff at GMInsideNews, where he has been writing since the age of 12.

1 Comment on "Saab Purchased By Joint Chinese-Japanese Investment Firm"

  1. Glad to see that this was picked up by another company…finally. It will be interesting to see how this affects Saab’s cars and if they will introduce electric cars into the market or not. I read something recently that said that electric cars are on their way back out. They’re good but they just aren’t within the price range their potential customers are wanting to pay.

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