The Chinese-Swedish group, National Electric Vehicle Sweden, or NEVS, is led by Hong Kong renewable energy power plant manufacturer National Modern Energy Holdings Ltd. and it has backing from Japan's Sun Investment. Under the unified title, the group intends to develop and produce electric cars in Saab's hometown of Trollhattan.
NEVS plans to put the first 9-3 EV on the road in the next 18 months and its first market will be China, although global sales are planned. NEVS' deal did not include the intellectual property rights to the 9-4x or 9-5, both of which rely heavily on GM technologies.
Just how much NEVS paid for the rights to the Saab name, its factory, its tooling company and both 9-3 architectures has not been disclosed.
Jiang, who moved from China to Sweden in the late 1980s, will lead 51 percent Chinese, 49 percent Japanese-backed NEVS.
Today's news expands on a widely-reported leak last week.
