Mexican Media Brands
Saab Owner in Deal with Dongfeng to Make EVs, Plug-in Hybrids
National Electric Vehicle Sweden AB the Chinese-Japanese venture that owns the former Saab Automobile is partnering with Dongfeng Motor Corp. to jointly develop electric and plug-in hybrid cars in China.
#hybrid
Share
National Electric Vehicle Sweden AB the Chinese-Japanese venture that owns the former Saab Automobile is partnering with Dongfeng Motor Corp. to jointly develop electric and plug-in hybrid cars in China.
Financial terms of the strategic cooperation agreement were not disclosed. The deal includes building an R&D facility and assembly plant in Tianjin and setting up a sales and service operation in China.
Reuters reports that NEVS said in June it had arranged two unnamed Chinese partners who pledged a combined 1.2 billion yuan ($188 million) to build the research center and a factory with potential capacity to make 200,000 cars per year.
NEVS has struggled to relaunch Saab as an electric-car company since acquiring the bankrupt carmaker's assets in 2012. NEVS suspended carmaking operations in Sweden in May 2014. Media reports last December said India's Mahindra & Mahindra Ltd. had filed papers in Sweden to gain control of the Chinese-Japanese venture.
Reuters notes that an assembly plant in Tianjin would enable NEVS to tap Dongfeng's extensive supply base there. Dongfeng acquired a 14% stake in PSA Peugeot Citroen last year and participates in carmaking joint ventures in China with Honda, Kia, Nissan and Renault.
RELATED CONTENT
-
On Military Trucks, Euro Car Sales, Mazda Drops and More
Did you know Mack is making military dump trucks from commercial vehicles or that Ford tied with Daimler in Euro vehicle sales or the Mazda6 is soon to be a thing of the past or Alexa can be more readily integrated or about Honda’s new EV strategy? All that and more are found here.
-
Aluminum Sheet for EV Battery Enclosure
As the number of electric vehicles (EVs) is about to increase almost exponentially, aluminum supplier Novelis is preparing to provide customers with protective solutions
-
Tesla Owners in Germany Ordered to Return Subsidy
Germany has ordered about 800 Tesla Model S electric cars owners to pay back a €4,000 ($4,700) government subsidy they received.