After 67 years, Saab cars are no moreStaff writer ▼ | June 21, 2016
The Saab car brand went into history. National Electric Vehicle Sweden (NEVS), the company created to take over the assets of Saab Automobiles in 2012 following the automaker's bankruptcy, built Saab cars for a few months before May 2014.
Auto industry The first Saab auto was made in 1949
"That means that NEVS will no longer use the Saab trademark," it said.
The first Saab car rolled off the production line in 1949 and the brand, sportier than Swedish rival Volvo, has gained cult status among many auto fans worldwide, AFP reports.
The Saab group sold the auto division to General Motors in 1990 which then sold it on to Dutch company Spykers in 2010.
Since Saab's 2012 liquidation, NEVS has used its Saab assets and Swedish know-how to develop a range of electric models with the help of Chinese capital.
In ate 2015 NEVS won a contract worth 11 billion euros ($12.4 billion) to supply 250,000 cars to Chinese rental company Panda New Energy. ■