Saab, the Swedish automobile company that over the past several years has seen significant loss in sales, filed for bankruptcy late last year. However, Saab was acquired on June 13th by National Electric Vehicle Sweden (NEVS). A consortium that plans to turn Saab into a strictly electric vehicle company.
Despite Saab being a household name it has struggled severely in recent years to maintain profits. In 2006 Saab sold 133,000 cars, this number was down to an estimated 15,000 in 2011. This led to announcement that they had filed for bankruptcy on December 19, 2011.
National Electric Vehicle Sweden is a Chinese-Japanese investment group that hopes by transitioning Saab as an electric vehicle producer it will turn around the company. Initially NEVS plans to focus in China as
there is a booming electric vehicle market. Saab's eventual goal is to be the world leader in electric vehicles.
Saab has a history of being innovative and different. They were created by aircraft engineers and have the tagline "born from jets" as a way to differentiate them as an advanced vehicle. Moving to be a producer of only electric vehicles is a continuation of this legacy.
The company plans to have its first vehicle, a model based on the 9-3, available in early 2014.