NEVS Cars

NEVS Nears Deal with Secret Swiss Buyer for Emily GT Project Amidst Evergrande’s Financial Woes

Reviving Saab's Legacy: NEVS Nears Deal for Emily GT Project Amidst Evergrande's Crisis

Inspired by Saab: The Emily GT concept, set to usher in a new era of electric vehicle production in Trollhättan. (Photo- PrntScr - Marcus & Manuela ́s Saab Channel)

In a turbulent financial landscape, NEVS, the Swedish electric vehicle manufacturer, is on the brink of a significant breakthrough. As NEVS’s parent company, the debt-ridden Chinese real estate giant Evergrande Group, grapples with staggering losses, NEVS is in advanced negotiations to sell its Emily GT project to a mysterious Swiss investor. The deal, which has reportedly been in the works for some time, could breathe new life into the Trollhättan-based company and revitalize hopes for the production of Saab-inspired electric vehicles.

Evergrande’s Financial Crisis Looms Large

Evergrande Group, the Chinese conglomerate that acquired NEVS in 2019, has been mired in financial difficulties for several years. Recently, the company reported a colossal loss of approximately 50 billion Swedish kronor (33 billion Chinese yuan – $4.5 billion) for the first half of 2023. While this represents a significant improvement compared to the 100 billion kronor ($9 billion)) loss reported during the same period last year, Evergrande’s enormous debt burden continues to weigh heavily on its future prospects.

Evergrande Tianjin production base assembly workshop
NEVS 93 – Evergrande Tianjin production base assembly workshop

As of now, Evergrande’s debt is estimated at around 3.6 trillion kronor, a slight reduction from year-end figures. The company’s downward spiral began in the summer of 2021 when it faced severe liquidity issues, ultimately leading to its recent filing for bankruptcy protection in the United States to safeguard its American assets.

NEVS’s Resilience and the Emily GT Project

In contrast to Evergrande’s woes, NEVS has managed to persevere through challenging times. NEVS, known for its commitment to sustainable mobility solutions, temporarily halted operations earlier this year, resulting in significant layoffs. However, the company has not given up on its vision for electric vehicles.

A Glimpse into the Future: NEVS' Emily GT Prototype Captures Attention on the Streets of Trollhättan


One of NEVS’s most notable projects is the Emily GT, an electric vehicle concept with strong Saab heritage. Despite the financial troubles of its parent company, NEVS is now in the final stages of negotiations to sell the Emily GT project to an undisclosed Swiss investor. This investor, shrouded in secrecy, is believed to hold the key to reviving NEVS’s operations in Trollhättan.

The Path Forward for NEVS

While NEVS has chosen not to disclose the identity of its Swiss buyer, sources suggest that the investor hails from Switzerland, a country renowned for its precision engineering and innovation in the automotive industry. This potential acquisition could represent a significant turning point for NEVS and the Trollhättan community, which has been eagerly awaiting a resurgence of automotive manufacturing in the region.

Svante Andersson, representing Stenhaga Invest, a local entity that recently acquired part of NEVS’s former Saab factory, commented on the impending deal: “I know who they are, but it’s not something I want to talk about. It should come from NEVS, but I can say that they will use a significant portion of the factory, including offices, and they need to hire a large number of employees.”

Unlike the current electric vehicles sold on the market, this is a real sports sedan
Unlike the current electric vehicles sold on the market, this is a real sports sedan

The community in Trollhättan, Saab enthusiasts, and those closely following developments in the area are hopeful that this deal will lead to the production of electric vehicles with authentic Saab roots, embodying the essence of Swedish craftsmanship and innovation.

Prospects for Saab-Inspired Electric Vehicles

The potential acquisition of the Emily GT project by a Swiss investor presents exciting possibilities for the future of electric vehicles with a Saab heritage. If successful, this venture could result in the production of electric cars that pay homage to Saab’s legacy of innovation and quality.

Saab has a rich history in the automotive industry, known for its commitment to safety, performance, and distinctive design. The prospect of reviving Saab-inspired electric vehicles has garnered significant interest from automotive enthusiasts and the global market.

Ex-Saab sign in Stallbacka
Ex-Saab sign in Stallbacka

Trollhättan’s Automotive Legacy

Trollhättan, a town steeped in automotive history, has long been associated with Saab’s manufacturing legacy. The community’s deep ties to the automotive industry make it a natural choice for the production of Saab-inspired electric vehicles. The potential resurgence of manufacturing in Trollhättan has generated enthusiasm among local residents, who hope for a revitalized economy and the creation of job opportunities in the region.

The Road Ahead

As the negotiations between NEVS and the secret Swiss investor near completion, all eyes are on Trollhättan. The successful sale of the Emily GT project and the subsequent production of Saab-inspired electric vehicles have the potential to reshape the future of NEVS and the Trollhättan community.

In the face of Evergrande’s financial challenges, NEVS’s resilience and commitment to sustainable mobility remain unwavering. The Trollhättan region and the global automotive industry eagerly await the official announcement of the deal and the promise it holds for the rekindling of Saab’s innovative spirit in the world of electric vehicles.

With the pieces of this intricate puzzle falling into place, NEVS’s journey towards electrifying Saab’s legacy could soon become a reality, offering a bright future for Trollhättan and a new chapter in the history of Swedish automotive innovation.

2 Comments

  • Come, come to America and make the new SAAB. Mexico is another good choice, as well as Canada.
    I own 2 Saabies. A 9-5 4inline Turbo & a 9-5 6inline Turbo. I even have….”kgo sabi”…. on my plates!! God I hope they produce this car. Question: Why hasn’t the Swedish government intervened to get Saab out of bankruptcy and take control of the company to produce Saab cars, trucks, etc.. beats me

  • Um, with all due respect, I hope America keeps its little hands off any and everything related to this car. Ugh, the thought of it messes with the sound of the vehicle. Sorry, I wholeheartedly disagree with you.

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