Saab Is Back: First Cars Produced Under New Owners

The Associated Press

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SAAB
SAAB

For the first time in two and a half years, a new Saab sedan has rolled off the production line in Trollhattan in southwest Sweden.

National Electric Vehicle Sweden, the Hong Kong-based company that bought Saab out of bankruptcy in September last year, on Monday presented its new 9-3 Aero.

The company, also called NEVS, aims to make electric cars under the Saab brand, but said it will also provide gasoline-fueled cars until "electric cars fully meet customer demands."

The first 200 cars will be delivered in the spring and will cost $42,500 each.

Saab shut down production in April 2011 as its previous Dutch owner, Spyker, struggled with financing. Formerly owned by General Motors, Saab filed for bankruptcy in December the same year.

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