Mexican Media Brands
Evergrande Takes Control of Saab Maker
Chinese property developer Evergrande Group has paid $930 million to gain a 51% stake in National Electric Vehicle Sweden, owner of the assets of bankrupt Saab Automobile AB.
#hybrid
Share
Chinese property developer Evergrande Group has paid $930 million to gain a 51% stake in National Electric Vehicle Sweden, owner of the assets of bankrupt Saab Automobile AB.
NEVS acquired Saab’s factory in Trollhattan, Sweden—but not rights to the brand name—in 2012. It began building an all-electric version of the Saab 9-3 Aero sedan in Tianjin, China, at the end of 2017.
Evergrande has been determined to expand into the EV market. The company most recently settled a dispute over its pledge to invest $2 billion in California-based EV startup Faraday Future Inc. The deal scrapped the original investment plan but gives Evergrande a controlling stake and 2% of Faraday’s preference shares.
RELATED CONTENT
-
Chevy Develops eCOPO Camaro: The Fast and the Electric
The notion that electric vehicles were the sort of thing that well-meaning professors who wear tweed jackets with elbow patches drove in order to help save the environment was pretty much annihilated when Tesla added the Ludicrous+ mode to the Model S which propelled the vehicle from 0 to 60 mph in less than 3 seconds.
-
What the VW ID. BUGGY Indicates
Volkswagen will be presenting a concept, the ID. BUGGY, a contemporary take on a dune buggy, based on the MEB electric platform that the company will be using for a wide array of production vehicles, at the International Geneva Motor Show.
-
Bolt EV: Like a Hammer Through a Screen
Some of you may remember the Apple “1984” commercial that ran on January 22, 1984, the ad that announced the Macintosh to the world.