NEVS, owner of Saab, becomes the property of Evergrande Health

Saab NEVS 9-3

Today, many are the ones who know the problems that Saab has gone through. The last time we heard about the Swedish firm, and its adventures, it was in December of 2017. In those days an important event took place: its fourth, or fifth, reborn . At that time, National Electric Vehicle Sweden AB was born, the division of NEVS that would be in charge of resurrecting the former Saab .

In the presentation carried out, they announced that they had a (in theory) good plan for the future. They had moved the tools of the last 9-3 from the factory of Trollhättan (Sweden) to Tianjin (China). From there, they would manufacture up to 220 thousand units of the NEVS 9-3 electric. However, it seems that the plans have been postponed, because although they say they have 170,000 firm orders, they can not get out of the quagmire.

A new owner who will not be able to resuscitate the old Saab

 NEVS - Saab 9-3

With all this mess, a new big fish has had to arrive, to control the excesses of the small one. In this case, it has been the holding, also Chinese, Evergrande Group who has taken 51 percent of shares of NEVS . In this way, the second developer of housing in the Asian country has shareholding in two builders, it also controls part of Faraday Future .

The transaction has been settled with a transaction of $ 930 million in favor of NEVS by Evergrande Health Industry Group . The first payment, made last Tuesday, has been of 430 million dollars and the second, will be carried out at the end of this month. In addition, to facilitate the expansion of the business of NEVS AB, they have granted a credit worth .

All in all, those responsible for Evergrande Group hope that the 1,800 million dollars that have injected into the firm, give performance as soon as possible. Through this operation, they are betting on an unknown sector, through two strongly questioned firms. We will have to see the following events, but anyone would say that Saab is cursed. Hopefully it is not like that and some day not far away we will see her reborn from her ashes like Ave Fénix.

Source - South China Morning Post

You may be interested