2006 Saab 9-3 2.0t Sedan 4-door 2.0l Excellent Condition on 2040-cars

Auto blog

Koenigsegg super cars team with Saab successor NEVS to go electric

STOCKHOLM — The Chinese-backed company born from the remnants of bankrupt Swedish automaker Saab is investing 150 million euros ($171 million) in a venture with Swedish super car brand Koenigsegg, in a move that could see them develop new electric models. National Electric Vehicle Sweden AB (NEVS), in which China's Evergrande Health recently became the majority investor, said it would take a 65 percent stake in a new joint venture to "develop a product for new and untapped segments." Koenigsegg will hold the rest, and contribute intellectual property, technology licenses and product design. The deal deepens China's exposure to Swedish automakers, with Geely owning Volvo Cars and the largest investor in truckmaker AB Volvo, and another Chinese investor having created NEVS in 2012 after buying the core assets and IP rights of Saab Automobile following its demise. NEVS, which owns production bases in Trollhattan in Sweden and Tianjin in China and plans another in Shanghai, has been trying to establish itself as a pure electric automaker, but has yet to produce a car. Evergrande Health's $930 million cash infusion into NEVS, announced this month, was seen as a second lifeline, giving it funds to develop costly electric vehicles and access to new auto technologies, where Evergrande is expanding. The Chinese firm is a unit of property developer China Evergrande Group and is a former investor in U.S. electric vehicle developer Faraday Future. Tuesday's deal will give NEVS a 20 percent stake in Koenigsegg and could potentially pave the way for it to begin delivering products to the market, with its loose partnership with Didi Chuxing, China's Uber, yet to yield anything concrete. "Koenigsegg is an enticing company developing advanced cars with unique technology and with a customer base that is one of a kind. ... We have both competencies and facilities to support Koenigsegg on their journey forward," NEVS Chairman Kai Johan Jiang said. Koenigsegg, backed by U.S. and Norwegian investors, sought to buy Saab after its 2011 collapse but the deal never materialized. While the luxury brand has built a plug-in hybrid, it has yet to develop a fully electric vehicle. Tesla's sales success in recent years has shown that a market for luxury electric cars exists, pushing traditional carmakers including Volkswagen's Audi and Porsche, and Tata Motors' Jaguar to develop their own versions.

Look familiar? NEVS 9-3, 9-3X are Saab-derived EVs for China

National Electric Vehicle Sweden (NEVS) have been working on creating EVs based on its Saab assets for years. We heard back in 2015 that we'd have an EV based on the 9-3 this year, and now we're finally getting to see the results. NEVS has unveiled its 9-3 and 9-3X EV concepts, which it will use in a mobility project in Tianjin, China. NEVS is showing the 9-3 EVs at CES Asia in Shanghai on June 7-9, where it will also provide more details about the cars, its Tianjin project, and future plans for the brand. As for Tianjin, NEVS will provide the cars and the services for carsharing and ride-hailing programs in the city. For that project, NEVS is collaborating with Tianjin Binhai Hi-tech Industrial Development Area (THT), which is the industrial park where its shared factory (with joint venture partner Dongfeng) and R&D center are located. NEVS President Mattias Bergman says, "We are excited by this great opportunity to develop smart, sustainable mobility solutions together with a progressive city as Tianjin, and develop them in full scale with real people in real life situations, with the vision to create a future integrated urban mobility solution." As for the 9-3 EVs, they're not much different in appearance from the GM-era Saabs, but they have NEVS badging (NEVS doesn't have rights to the Saab trademark). They have a driving range of about 186 miles, offer in-car Wi-Fi, smartphone connectivity, and can get over-the-air software updates. NEVS says the cars are equipped with a "world-class" cabin air filter, which helps keep harmful particulates out of the car (important in the polluted urban centers China is working to improve). They're being built in China, and are expected to hit the roads there in 2018. Related Video:

NEVS, the company that took over Saab, gets new majority owner

Chinese real estate conglomerate Evergrande Group, a key investor behind troubled electric vehicle startup Faraday Future, has acquired a 51 percent stake in NEVS. That's the Chinese-backed Swedish electric vehicle company that purchased the assets of Saab out of bankruptcy in 2012. The investment by subsidiary Evergrande Health Industry Group was valued at the equivalent of $930 million and is expected to help NEVS develop new EVs. Evergrande said it paid the first installment of $430 million on Jan. 15, with the remainder due by the end of the month. The remaining 49 percent stake is controlled by a holding company controlled by NEVS founder Kai Johan Jiang. "It means that NEVS will get a financial (sic) strong main owner who is very interested in developing our vision about green mobility transport solutions for the future," NEVS CEO Stefan Tilk said in a statement. NEVS, short for National Electric Vehicle Sweden, owns production facilities in Trollhattan, Sweden, and Tianjin, China, with another under construction in Shanghai. In late 2017 the company launched what apparently was limited production of the 9-3 EV, an electric vehicle based — you guessed it — on the old Saab 9-3 platform. The company now says it will be built in Tianjin starting later this year, with components coming from Trollhattan. It boasts a 186-mile range, in-car WiFi and a cabin air filter for the notoriously smoggy Chinese air. It also showed a battery-electric 9-3X concept at CES Asia in 2017, which is likely to be its next model pegged for production. The South China Morning Post, citing local media reports, says two of NEVS' models meet the standards for mass production in China. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Definitely the best promotional video we've ever seen. Evergrande Health first came to Faraday Future's rescue back in 2017 with a promised $2 billion investment, but the two sides later went into arbitration in Hong Kong over a dispute about money following the first infusion of $800 million, leading the automaker to cut staff and wages last year, casting the future of FF into doubt. At the end of 2018, Faraday announced it had entered into a new restructuring agreement with an Evergrande Health subsidiary that sees them end litigation and jettison the previous investment agreement, taking Evergrande's investment in the company to 32 percent.