Company overview
NEVS AB was established in 2012 as a Swedish electric car manufacturer, acquiring the assets of Saab Automobile following its bankruptcy. Initially funded by Hong-Kong based National Modern Energy Holdings and Japanese investment company Sun Investment, NEVS aimed to continue electric vehicle production at the Saab factory in Trollhättan. The company initially licensed the Saab brand name, using a modified Griffin logo. Production began in 2013 with pre-production Saab 9-3s, transitioning to limited petrol-powered models in 2013 and later electric versions. Financial difficulties, including the Qingdao oil pipeline explosion and Saab revoking brand rights, led to production suspensions and bankruptcy proceedings. In 2015, NEVS secured partnerships with Chinese entities including Tianjin and Beijing State Research Information Technology Company. In 2019, Evergrande Group acquired a majority stake in NEVS and subsequently partnered with Koenigsegg. Later, the company entered hibernation mode to avoid bankruptcy. In 2023, NEVS sold its Trollhättan factory to Stenhaga Invest AB. In December 2023, EV Electra purchased the rights to the Emily GT and PONS projects. As of December 2024, all remaining NEVS employees were made redundant.
