National Modern Energy Holdings, an alternative energy group based in Hong Kong, and Japanese investment firm Sun Investment plan to use newly acquired Saab’s manufacturing facilities in Trollhättan, Sweden to develop and produce upmarket electric cars that will be focused on Chinese consumers.
The company plans to develop an electric car based on the Saab 9-3 using Japanese technology. This will be launched in 2013 or 2014 with marketing and sales focused on China, which the company claims "is set to become the largest and most important electric vehicle market”.
The founder of National Modern Energy Holdings, Kai Johan Jiang, is a Chinese businessman with Swedish citizenship. He said: “China is investing heavily in developing the EV market, which is a key driver for the ongoing technology shift to reduce dependence on fossil fuels.
“The Chinese can increasingly afford cars. However, the global oil supply would not suffice if they all buy petroleum-fuelled vehicles. Chinese customers demand a premium electric vehicle, which we will be able to offer by acquiring Saab Automobile in Trollhättan.”
