NEVS signs $12B deal to produce 150K Saab 9-3 EVs

NEVS signs $12B deal to produce 150K Saab 9-3 EVs  image

Text: Martin Aguilar / Photos: NEVS | posted December 18, 2015 10:58

NEVS to provide China's Panda New Energy Co., Ltd. with EVs until 2020

National Electric Vehicle Sweden (NEVS), the owner of Saab Automobile, signed a strategic partnership with Chinese company, Panda New Energy Co., Ltd.

Under the said partnership, NEVS will provide Panda with 150,000 Saab 9-3 electric vehicles (EV) until the end of 2020. Furthermore, the agreement includes 100,000 other EV products and services from companies associated to NEVS and its owners. Overall, the value of the agreement is USD 12 billion (around PhP569.8B).

NEVS Vice Chairman Stefan Tilk said that the partnership is an important step to implement their vision and the company's new business plan.

“This is a strategic collaboration for NEVS, not only in terms of the numbers of vehicles, but it is also an important step to implement our vision and new business plan. In the long term, we want to provide our customers with both sustainable products and mobility services,” said Tilk.

Panda New Energy is a new energy vehicle leasing company with focus on low emission mobility solutions. Cooperating with many chauffeured car service platforms in China, Panda aims to become one of the biggest EV leasing companies in the world.

As a review, NEVS first introduced the Saab 9-3 EV prototype last August 2014. According to NEVS, the EV prototype is based on the Saab 9-3 Aero Sedan with the batteries placed under the floor for 50/50 weight distribution and keeping the cabin as roomy as the original gas-powered sedan version.