National Electric Vehicle Sweden, or Nevs, which bought the assets of bankrupt Saab Automobile, announced a 78-billion-yuan ($12 billion) deal today to supply 150,000 electric cars to Chinese leasing firm Panda New Energy.
The agreement marks a big breakthrough for Nevs, which bought Saab’s assets in 2012 and exited corporate reorganization procedures in April.
Nevs said it will provide Panda with 150,000 9-3 sedan electric vehicles by the end of 2020 and 100,000 other electric vehicle products and services from companies associated with Nevs and its owners. Mikael Ostlund, a spokesman for Nevs, said the company planned to hire “hundreds of staff.”
Nevs is co-owned by National Modern Energy Holdings, Tianjin Binhai Hi-tech industrial Development Area and the Beijing State Research Information Technology Co.
