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Does Saab Have Another Shot at Life If Its Assets Owner Is Bought by Xiaomi?

NEVS, the company that owns Saab's assets, is about to be sold off by its owner, the Evergrande Group. According to several sources and reports, the Chinese property developer called Evergrande is already in talks with Xiaomi and state-backed investment firms for the sale of 65 percent of its electric vehicle unit.
2013 Saab 9-3 Aero 9 photos
Saab 9-3 AeroSaab 9-3 AeroSaab 9-3 AeroSaab 9-3 AeroSaab 9-3 AeroSaab 9-3 AeroSaab 9-3 AeroSaab 9-3 Aero
As many of you know, NEVS is short for National Electric Vehicle Sweden, and it owns most of Saab's assets, including its factory in Sweden. However, NEVS did not own the griffin on Saab's logo, so the company presented its first (and last) model, the 9-3 Aero, with a round black badge that had the Saab name written in white.

The Chinese company meant to launch an electric vehicle brand, but those plans did not materialize. Unfortunately, the decision also involved ditching the Saab name. That decision was made six years ago, and there is no chance of seeing another new model from Saab, even with its new potential owners.

The Xiaomi consortium is seen as NEVS' potential buyer, as Reuters notes, which would mean that the Chinese company would also see itself owning 65 percent of the company that owns the assets of Saab. The complicated situation that would arise from this would not favor the relaunch of Saab.

The worst part for Saab and its fans is that the brand will be forgotten in time and reviving it will not be an easy task. The sale of parts of the company that currently owns most of Saab's assets is another layer of concrete added to the Sweedish automaker mausoleum.

It is worth noting that the Evergrande Group, owner of NEVS, has stakes in several companies, including Faraday Future. The consortium also owns an electric vehicle brand named Hengchi. The latter displayed vehicles at the 2021 Shanghai Auto Show back in April, and it may be the true asset that is being sold in the aforementioned deal. If that is the case, Saab still has no shot at returning to the market, unless its assets are acquired in full by another company.

Editor's note: Photo gallery shows Saab 9-3 Aero, the last model sold by Saab under its new owners.


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