1991 Saab 900 2dr Convertible Turbo on 2040-cars

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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:

GM recalling 8.4M cars, 8.2M related to ignition problems

General Motors today announced a truly massive recall covering some 8.4 million vehicles in North America. Most significantly, 8.2 million examples of the affected vehicles are being called back due to "unintended ignition key rotation," though GM spokesperson Alan Adler tells Autoblog that this issue is not like the infamous Chevy Cobalt ignition switch fiasco.
For the sake of perspective, translated to US population, this total recall figure would equal a car for each resident of New Hampshire, Rhode Island, Montana, Delaware, South Dakota, Alaska, North Dakota, the District of Columbia, Vermont and Wyoming. Combined. Here's how it all breaks down:
7,610,862 vehicles in North America being recalled for unintended ignition key rotation. 6,805,679 are in the United States.