Nevs gets USD 12 billion order for electric cars
National Electric Vehicle Sweden (Nevs), formerly Saab Automobile, announced that it had some good news Thursday, an order worth USD 12 billion from Chinese vehicle leasing company Panda New Energy, to manufacture electric cars and also provide related products and services.
The Swedish-based, Chinese-owned Nevs, established in 2012 to take over Saab's assets after bankruptcy, has faced significant financial troubles since its infancy. But this most recent order, plus a partnership with Turkey that the company announced in October, could mean that Nevs can finally get into gear.
"This is an important order for Nevs, both for Nevs' Swedish business and for Swedish-China business," Mikael Östlund, head of press at Nevs, told Radio Sweden.
According to Nevs, the deal means Nevs will provide Panda with 150,000 sedan electric vehicles by the end of 2020, based on Saab's 9-3 sedan platform. Panda will also get 100,000 other electric vehicle products and services from companies associated with NEVS and its owners.
Östlund said that production will start with the building and painting of car bodies in Trollhättan. They will then be shipped to their plant, currently under construction, in Tianjin, China, for final assembly.
Östlund said that about 600 people already work for the company at the headquarters in Trollhättan, and he foresees the need to hire several hundred more, but that that had been the company's plan even before this deal.
Panda, based in Shenzhen in southern China, wants to become one of the biggest electric vehicle leasing companies in the world, writes AFP.