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Panda places e-car order worth US$12b
Print Edition
CHINA’S vehicle leasing company Panda New Energy has placed an order for electric cars worth US$12 billion from Chinese-owned carmaker Nevs, formerly Saab, the Sweden-based company said yesterday.
It was the second order this autumn for National Electric Vehicle Sweden (Nevs), which has faced 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.
Nevs, whose core strategy is to produce 100 percent electric vehicles for the Chinese market, has only produced cars from late 2013 to May 2014.
In October, it announced a partnership with Turkey to develop a “Turkish national vehicle.”
Nevs spokesman Mikael Ostlund said the Chinese order would create jobs for “hundreds of people.”
Nevs will provide Panda with 150,000 sedan electric vehicles 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 with Nevs and its owners,” it said.
Shenzhen-based Panda works with chauffeured car service platforms in China and aims to be one of the biggest electric vehicle leasing firms globally.
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