China's Panda orders electric cars for $12 bn from Nevs, ex-Saab

December 17, 2015
China's Panda New Energy has placed an order for 250,000 electric cars from Chinese-owned carmaker Nevs, formerly Saab, for $12
China's Panda New Energy has placed an order for 250,000 electric cars from Chinese-owned carmaker Nevs, formerly Saab, for $12 bn

Chinese energy vehicle leasing company Panda New Energy has placed an order for 250,000 electric cars from Chinese-owned carmaker Nevs, formerly Saab, for $12 billion (11 billion euros), Nevs announced on Thursday.

This is the second order this autumn for National Electric Vehicle Sweden (Nevs), which has experienced major financial woes since being established in June 2012 to take over Saab's assets after bankruptcy.

"This is a strategic collaboration for Nevs not only in terms of the numbers of vehicles, but it is also an important step to implement our vision and new business plan," Nevs vice chairman Stefan Tilk said in a statement.

In October Nevs announced a partnership with Turkey to develop a "Turkish national vehicle."

Nevs spokesman Mikael Ostlund told Swedish news agency TT the Chinese order would create jobs for "hundreds of people."

Nevs will provide Panda with 150,000 9-3 sedan by the end of 2020, based on Saab's 9-3 sedan platform. The deal also includes 100,000 other electric vehicle products and services "from companies associated to Nevs and its owners," Nevs said.

Panda cooperates with chauffeured car service platforms in China, and aims to become one of the biggest electric vehicle leasing companies in the world.

Nevs is owned by China's National Modern Energy Holdings, Tianjin Binhai Hi-tech industrial Development Area (THT), and the Beijing State Research Information Technology Co. Ltd. (SRIT).

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2 / 5 (4) Dec 17, 2015
The world will turn to electric transportation over fossil fuels eventually. Once you drive the amazingly-responsive electrics, you will ditch your old polluter as soon as EV range reaches your needs. For now, ours is in-town mostly, limited to about 100 miles on a charge.
not rated yet Dec 19, 2015
I can't wait until a second car company makes a real electric car. One that actually has power and range. One that isn't designed to be ugly, unsafe, gutless, have a bumpy ride and a short range.

I guess only Tesla can make a half decent car.

I wonder when they can start producing enough cars that their economy of scale puts them as a contender against the gas giants.

1 / 5 (3) Dec 19, 2015
"ugly, unsafe, gutless, have a bumpy ride"

Are you serious? Ours is none of those. It is not for long trips, and that is not what we bought it for. No maintenance. No oil. No gasoline. No driveway drips. No filters. No tuneups. No consumables but window fluid.

It has steel unibody construction, great pickup and a low center of mass and is festooned with airbags. At my night power rate, transportation comes to two cents/mile.
3.7 / 5 (3) Dec 21, 2015
"1. festoon - a curtain of fabric draped and bound at intervals to form graceful curvesfestoon - a curtain of fabric draped and bound at intervals to form graceful curves
curtain, drape, drapery, pall, mantle - hanging cloth used as a blind (especially for a window)
2. festoon - an embellishment consisting of a decorative representation of a string of flowers suspended between two points; used on pottery or in architectural work
embellishment - a superfluous ornament
3. festoon - flower chains suspended in curves between points as a decoration"

-George is the type of phony who uses words he doesnt understand in order to impress.

If he had an education he would know just how futile this is.

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