Latest News:  


Latest chapter in Saab story now set in Qingdao

By Han Tianyang  (China Daily)

09:21, January 15, 2013

Another twist in tale of failed global auto brand

Defunct Swedish carmaker Saab is again in the spotlight following a local newspaper story that its new owner signed an agreement with an investment company in Qingdao to build a plant making both conventional and electric Saab-brand cars in the eastern Chinese city.

The report from Qingdao said the plan calls for a 10 billion yuan production facility with a designed production capacity of 400,000 vehicles a year.

Saab was acquired by National Electric Vehicle Sweden AB last August, which hopes to revive the brand with a battery-powered version.

NEVS confirmed its plan to produce vehicles in Qingdao in an emailed statement to China Daily but declined to comment on details of the Chinese-language report.

It also said that the city government of Qingdao, through its investment company, has taken a 22 percent share in NEVS for 2 billion Swedish krona ($310 million).

"Further investments will be made in a joint venture company in China," the statement said.

Fundamental change

The latest move marked a fundamental change in the NEVS business plan. When it bought Saab last summer, the company said that it would not produce automobiles anywhere other than Saab's former Trollhattan plant.

【1】 【2】 【3】

We recommend:

KFC apologizes for unqualified chicken supply

Li Ka-shing named Hong Kong's richest again

1st individual user of grid-connected PV power

Price cut for 20 types of drugs

Top Ten Economic Events in 2012

Demand for gold rises with diversify reserve holdings


Related Reading

Leave your comment0 comments

  1. Name


Selections for you

  1. Carrier-based aircraft unit in flight training

  2. J-10 fighters over E. China Sea

  3. Countries with the cleanest air

  4. Chengdu braces for holiday travel rush

  5. The strongest left-behind children

  6. Heavy fog envelops Chinese cities

  7. North American auto show kicks off in Detroit

  8. Food and flower festivals

  9. Have fun picking strawberries in Jinshan

  10. Harbin International Ice and Snow Festival 2013

Most Popular


  1. Heavy smog reveals generation gap
  2. A very rash act by the US
  3. Message of caution for Japan
  4. Adding mortar to the BRICS
  5. Children without parents still lack help, protection
  6. Philippines moves in wrong direction
  7. Drinking water safety is not a simple problem
  8. Japan's envisaged 'warning shots' dangerous
  9. When Chinese wives meet American mothers-in-law
  10. Will you leave a city because of cold?

What’s happening in China

Extinction of river dolphin: What does it mean for the Yangtze River?

  1. Such 'evasion' is a shame of education
  2. Snow eases air pollution in Beijing, more or less
  3. Bureau tried to 'borrow' orphans from temple
  4. Shoppers snap up air purifiers to beat the smog
  5. Authorities to boost wild bird protection