The never-ending Saab saga continues once again. This time around, after having gone bankrupt yet again, the brand has been sold to National Electric Vehicle Sweden, a Chinese-Japanese consortium, for an undisclosed price.
The purchase means that NEVS will take on Saab’s debt of $1.9 billion. However, it does not include Saab Automobile Parts, the division of Saab responsible for the manufacturing and sales of spare parts. The Swedish National Debt office will be taking over this branch of the car brand.
Reports suggest that the first vehicle to come as a result of the new ownership will be an electric vehicle, as suggested by the consortium’s name, based on the Saab 9-3. Oddly enough, NEVS has not currently purchased the rights to the rest of the Saab lineup, the 9-5 and the 9-4X. The fate of these cars may very well be grim.
It will be interesting to see, however, if Saab can really survive under yet another owner. The brand has not been profitable in almost 20 years according to Automotive News, and the last few years have been extremely rocky for it. They also haven’t built a single car since March of 2011. We’ll be sure to let you know how this plays out.