Saab to produce electric vehicles

Automaker Saab is going to produce electric vehicles. As part of an international consortium the automaker is moving its focus to electric vehicles. This was announced last week by the trustees of the bankrupt Swedish company, which until recently was owned by the Dutch Spyker. The new owner of Saab, Sweden National Electric Vehicle (NEVS), has Chinese, Swedish and Japanese involvement due to investors from those countries. How much the company pays and how much it wants to invest in the future development and production, was not disclosed.

However, the Saab division that makes automobile parts is not included in the sale. The same applies to the intellectual property in the Saab 9-5. This model was developed when Saab was owned by General Motors. The American company still owns the licensing rights.

The Saab 9-3 will be the first vehicle of the automakers focus under its new owners. The car will be using Japanese technology suitable for electric vehicles. It is intended that the car is launched in 2014. Next to the existing model, Saab is going to work on a completely new model.

The company has focuses its initial sights on the Chinese market.

” China is investing heavily in the development of the electric market to reduce their dependence on fossil fuels,” said Kai Johan Jiang, the Swedish-Chinese founder and owner of the largest shareholder of NEVS.