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Saab Buyer Gains Rights to Brand Name
Swedish defense company AB Saab has licensed the Saab name for an undisclosed sum to National Electric Vehicle Sweden, which agreed in June to buy the assets of the bankrupt Saab Automobile AB.
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Swedish defense company AB Saab has licensed the Saab name for an undisclosed sum to National Electric Vehicle Sweden, which agreed in June to buy the assets of the bankrupt Saab Automobile AB. The EV startup did not obtain rights to Saab's griffin logo.
NEVS also says it has finalized the purchase of Saab assets from the company's bankruptcy administrators. The company, which is owned by a Chinese-Japanese consortium, says it will focus on developing its first EV at its engineering facility in Trollhattan, Sweden.
NEVS expects to introduce the new model, which will ride on Saab's next-generation 9-3 platform, in about 18 months.
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