Saab Just Got $300 Million To Become A Zombie You Can't KillS

Since the death of Saab, not much happened around Trollhättan. The town saved the collection of the Saab Museum, and if you acted fast, you could do something similar by getting one of the last 68 Saabs ever built.

After GM made sure Spyker could not turn Saab around, the main assets of the factory were bought up by National Electric Vehicle Sweden AB (NEVS), a company now owned by Hong Kong-based National Modern Energy Holdings. Behind that, you find Chinese-Swedish businessman Kai Johan Jiang.

NEVS got everything except Saab's griffin logo, meaning that they have the 9-3 as well as the brand-new Phoenix platform. Their plan is to relaunch the 9-3 for the Chinese market, while also developing a brand new all-electric car based on the platform. The EV's powerplant will come from a Chinese-Japanese cooperation, which is why the Chinese city of Qingdao agreed to invest $307.3 million for 22 percent of the shares in exchange.

Since we are talking about the Chinese market, when they exceed the Trollhättan plant's capacity, a new factory will be built in Qingdao.

So yes, the new Saab is still called Volvo.

Photo credit: Erik Olsson