What happened to Nevs?
Nevs is a Swedish car manufacturer that has been operating in Trollhättan for over ten years, but despite this, it is almost impossible to find a car built by the company that rolls on public roads.
After several years of problems, the company notified its last 20 employees on December 11, 2024. As early as February 2023, operations were put into hibernation, as costs were minimized and the majority of employees were laid off.
“Unfortunately, binding agreements have not been fulfilled by more than one buyer, which has put Nevs in a situation where lack of time has forced the company into settlements that have resulted in liquidity going forward at an all too critical level and with the risk of bankruptcy,” Nevs writes in a press release.
Nevs planned to revive the old Saab factory – Photo: Björn Larsson Rosvall/TTV What is the connection between Nevs and Saab?
Nevs, which is an abbreviation of National Electric Vehicle Sweden, is a Swedish-Chinese car manufacturer.
The company was formed in 2012 to take over the bankruptcy estate of the classic Swedish car brand Saab, which went bankrupt in December of the previous year.
The goal was to resume car manufacturing at Saab’s old factory in Trollhättan. Apart from a few examples of the Saab 9-3 Aero built in 2013 and 2014, however, these plans never came to fruition.
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Who owns Nevs?
Nevs was founded in 2012 by the Swedish-Chinese businessman Kai Johan Jiang.
After a reconstruction at the end of 2014, as well as a number of changes of ownership and interrupted collaborations, Nevs is now a wholly owned subsidiary of the Chinese real estate company Evergrande.
Evergrande is heavily indebted and has been in financial crisis since 2021, when it announced plans to try to sell Nevs. However, Nevs is still under Evergrande’s ownership.
In 2023, the old Saab factory was sold to the property company Stenhaga Invest.
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What happened to Nev’s Emily GT?
Jihad Mohammad was buying the Emily GT project – Photo: eLife Nordic
The Emily GT is a high-tech electric car developed by the old Saab engineers at Nevs.
In late 2023, news broke that Emily GT and another project called PONS had been sold to Lebanese businessman Mohammed Jihad and his company EV Electra.
Jihad explained that the plan was to put the Emily GT into production in Trollhättan within just a few months, but skeptical voices were soon raised about the businessman’s credibility.
The deal collapsed after EV Electra did not fulfill the agreement.
CEO Nina Selander on the future of Nevs
Although the future looks dark for Nevs, the company’s CEO Nina Selander still hopeful.
– It feels heavy, but we are not going to throw in the towel right away. The last nail in the coffin has not been hammered in yet, she tells him TTELA.
Nev’s CEO Nina Selander – Photo: eLife Nordic
According to Selander, the company still has a few months’ notice to find a solution to Nev’s difficult situation.
– Now we have a number of months, during our notice period, to sell Emily GT and PONS and find solutions for the employees – even if it will be under someone else’s auspices. We have already started dialogues regarding the employees and will fight to the end to get everyone back on their feet, she says in a press release.
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