Real estate giant Evergrande had bought what was left of the glorious Saab, inserting its heritage within the NEVS (National Electric Vehicle Sweden) brand, in 2012. The company had acquired the assets of the now lost Swedish manufacturer, and had set itself the goal of returning to producing cars, mainly of the electric type . Recently, however, Evergrande has entered a very deep economic crisis, so wide as to suggest a new world crisis in full Lehman Brothers style. It is about 300 billion dollars of ‘hole’, after all. As a result, many of the businesses that Evergrande had opened on the sidelines of its core business were put up for sale, including the technology-focused automotive division (Hengchi brand).
Now there is news on NEVS: the company would be in contact with US and European investment firms. Although CEO Stefan Tilk said the funds could be enough to keep research going for several months, it is clear that getting out of Evergrande honorably could be the best way to save jobs and residual facilities. A source contacted by Reuters values NEVS assets at around $ 1 billion. NEVS had also been licensed to produce electric cars in China, another great requirement for potential investors.
Last August, the NEVS rumors had focused on the interest of the telephony giant Xiaomi. However, there have been no significant news on this negotiation.
Is there a chance to review the Saab brand on the roads? If investors manage to acquire the company and plan a return to the European and North American markets, it would certainly be a recognizable brand and whose conversion to electric would not be painful in relation to its history. But in this sense, the chances would remain remote, especially since a long time has passed since the last car produced.