Thursday, February 22, 2024
News EV Startup With Canadian Ties Buys SAAB Legacy NEVS Emily Project

EV Startup With Canadian Ties Buys SAAB Legacy NEVS Emily Project

Swedish EV could be back on table

  • Emily GT expected to go into production in Sweden

  • Startup takes on project to add to own EV development

SAAB is back. Sort of, at least. An EV startup with Canadian ties has agreed to purchase the PONS and Emily projects from National Electric Vehicle Sweden, with plans to put the Emily into production.

National Electric Vehicle Sweden, or NEVS, purchased what remained of SAAB from a bankruptcy auction in 2012. The company planned to build an electric version of the 9-3, but those plans fizzled in 2017.

In 2020, NEVS was purchased by Evergrande Group, a Chinese company that helped fund the development of a new model called the Emily GT. Evergrande put the company into hibernation earlier this year. The factory was sold, and it seemed like the end of the line.

Now EV Electra, an EV startup based in Lebanon that says it is headquartered in Canada, has stepped up to carry on the Emily project. The Emily GT was revealed earlier this year and was a 600-mile, 480-hp electric vehicle with SAAB styling.

EV Electra CEO Jihad Mohammed said that he expects the company to be building EVs in Sweden.

“We will have cars coming out of Trollhättan again. We did this acquisition fully aware that we will need to back it all the way through development to mass production,” he said.

“I am a firm believer in in-house production and strong balance sheets. I also believe Trollhättan has the personnel that can make our visions come true.”

Nina Selander, the CEO of NEVS said: “Today’s development is beyond words for me. The commitment to Trollhättan’s operations not only reinforces local presence but also ensures the preservation of our projects’ unique identity. This realization of shared dreams marks a profound moment for NEVS and EV Electra.”

EV Electra expects to start building its own models in Turkey soon, but there is no word on when Emily could see production.



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