National Electric Vehicle Sweden has officially signed a deal with Qingdao Qingbo Investment Company that will see the NEVS build EVs in Qingdao, China. The move is the first step on the road toward eventually selling vehicles in China. Reuters reports that the Chinese company has agreed to invest $307.33 million, after which point Qingdao Qingbo will receive 22 percent of the NEVS shares. Currently, there's no word on exactly when the funds and shares will change hands, but the Swedish automaker has previously said it fully intends to launch its first EV by early 2014.

NEVS has also made waves about potentially building a version of the old Saab 9-3 with a traditional internal combustion driveline. Currently, the manufacturer says it plans to ship the vehicles it builds in Sweden to the Qingdao port and distribute them to the rest of China from there. Later down the line, a manufacturing facility in Qingdao will supply the country with Chinese-built Saab models.


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    • 1 Second Ago
  • 15 Comments
      mbukukanyau
      • 1 Year Ago
      Saab lives in the land of the living dead
      md_stew
      • 1 Year Ago
      Im so tired of hearing about SAAB!
        ChaosphereIX
        • 1 Year Ago
        @md_stew
        Im not, wish they came back. Not many cars these days for those who dont want to be part of the herd...
      Z. Kesh
      • 1 Year Ago
      Who the ef cares about SAAB?? I want PONTIAC back!!!!!!
        Spec
        • 1 Year Ago
        @Z. Kesh
        Did you need to replace your Aztec?
      tony36619
      • 1 Year Ago
      Well there goes the product quality for good.
        Z. Kesh
        • 1 Year Ago
        @tony36619
        You do realise the chinese can actually build a high speed train network? While your infrastructure is rotting right under your feet.
          tony36619
          • 1 Year Ago
          @Z. Kesh
          Actually the installation of their high speed rail system resulted in a devastating crash 5 months after its completion.
        Levine Levine
        • 1 Year Ago
        @tony36619
        Another anti-chinese rant. A victim of propaganda,
        SouthSider
        • 1 Year Ago
        @tony36619
        I guess you are reading this on your American made computer.
      ChaosphereIX
      • 1 Year Ago
      Some good news I guess, though I would like a new 9-5 wagon to purchase here thank you...
      wrestleprocbt
      • 1 Year Ago
      I know it may be years down the road, but please give us a crossover like the 9-4x or an SUV like my 9-7x only better, dont let GM have a hand in it! Can we get the 9-3 convertable soon at least? I need a new car soon and I would be happy to make one of those the next one.
      • 1 Year Ago
      [blocked]
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