Saab To Restart 9-3 Sedan Production
News: Swedish premium carmaker Saab's new owner, National Electric Vehicle Sweden (NEVS), has restarted series production of the 9-3 sedan at a facility in Trollhättan. The move comes two years after the company was forced to file for bankruptcy. The model will be powered by a turbocharged gasoline engine and will resemble pre-series models that were tested in September. The decision to restart production was made after NEVS reached an agreement with parts suppliers. NEVS is scheduled to start production of an electric variant of the 9-3 in 2014.
BMI View: NEVS has bought the main assets of bankrupt Saab Automobile and aims to establish the brand as an electric vehicle maker based in Sweden. BMI believes that, as more international auto manufacturers enter the electric vehicle segment, prices will drop and the technology will continue to improve, which should facilitate growth in a fledgling market.