Wednesday, June 13, 2012

New Electric Vehicle Venture in Sweden

National Electric Vehicle Sweden AB (NEVS) and the Receivers of the Saab Automobile bankruptcy 

estate today signed a purchase agreement which covers the main assets of Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tools AB. The agreement includes all outstanding shares in the property company which owns the Saab Automobile facilities in Trollhättan, Sweden. The price for the assets has not been disclosed. Saab Automobile Parts AB, as well as intellectual property rights for the Saab 9-5, owned by General Motors, are not included in the purchase agreement.

NEVS is an international consortium formed by Japanese, Swedish and Chinese stakeholders. The
company will establish a new automobile venture in Trollhättan, solely dedicated to development and
manufacturing of electric vehicles (EVs).

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