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Saab Is Back: First Cars Produced Under New Owners

Mon, 12/02/2013 - 2:01pm
The Associated Press

STOCKHOLM (AP) -- For the first time in two and a half years, a new Saab sedan has rolled off the production line in Trollhattan in south-west Sweden.

National Electric Vehicle Sweden, the Hong Kong-based company that bought Saab out of bankruptcy in September last year, on Monday presented its new 9-3 Aero.

The company, also called NEVS, aims to make electric cars under the Saab brand, but said it will also provide gasoline-fuelled cars until "electric cars fully meet customer demands."

The first 200 cars will be delivered in the spring and will cost 279,000 kronor ($42,500) each.

Saab shut down production in April 2011 as its previous Dutch owner, Spyker, struggled with financing. Formerly owned by General Motors, Saab filed for bankruptcy in December the same year.

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