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A Glimmer of Hope in Trollhättan
After weeks of grim news from Trollhättan, there is finally a spark of hope for NEVS and the future of the Emily GT. In a surprising turn of events, NEVS CEO Nina Selander revealed that discussions with a potential buyer for the Emily GT and PONS projects are underway. This announcement comes just days after the company issued layoff notices to its remaining 20 employees, marking what seemed like the end of NEVS’ electric vehicle ambitions.
Selander, speaking to Swedish radio P4, stated that while the situation remains precarious, there is a strong possibility of finalizing a deal within the first half of 2025. This development provides a much-needed boost to NEVS, which has been teetering on the brink of bankruptcy.
The Road to Layoffs – How NEVS Got Here
NEVS’ struggles are deeply rooted in the financial instability of its parent company, Evergrande Group. The Chinese real estate giant, facing its own financial woes, directed NEVS to implement severe cost-cutting measures throughout 2023 and 2024. By February 2023, NEVS entered hibernation mode, laying off most of its workforce and liquidating parts of the former Saab factory in Trollhättan.
Despite these measures, NEVS continued to bleed cash. The failure to secure buyers for the Emily GT and PONS electric vehicle projects further exacerbated the company’s liquidity crisis. By December 2024, the situation reached a tipping point, with Selander announcing the dismissal of all remaining employees, including herself
New Buyer on the Horizon!
In her latest interview, Selander remained cautiously optimistic. She confirmed that discussions are ongoing with a confidential buyer interested in acquiring the Emily GT and PONS platforms. Although details remain scarce, Selander hinted that the buyer recognizes the significance of Trollhättan’s legacy and understands the value of keeping operations in Sweden.
Selander revealed that NEVS is “85 cm down a one-meter path,” suggesting that the negotiations are close to completion but require careful navigation in the final stages. She emphasized that while the company faces immense challenges, there is still hope for a positive outcome.
The Fallout from EV Electra’s Failed Deal
This isn’t NEVS’ first attempt to sell the Emily GT. In 2023, the company reached an agreement with Lebanese electric vehicle startup EV Electra. However, the deal collapsed after EV Electra failed to fulfill its contractual obligations. This setback forced NEVS to reconsider its options and reopen discussions with other potential buyers.
Reflecting on the failed EV Electra deal, Selander acknowledged the disappointment but maintained that the Emily GT remains an attractive and competitive product. She expressed confidence that the unique wheel-motor technology and advanced design of the Emily GT would eventually attract the right investor.
What’s Next for NEVS and the Trollhättan Factory?
As the sale negotiations progress, the future of the Trollhättan factory hangs in the balance. NEVS has already begun dismantling and selling off industrial equipment from the facility, a process overseen by the industrial liquidation firm Surplex. Hydraulic presses and stamping tools that once shaped Saab models are now finding new homes across the globe.
However, Selander remains committed to preserving what she can. She emphasized that until a final decision is made, the Emily GT and PONS projects will remain in Trollhättan. NEVS will continue discussions with trade unions and Evergrande to explore pathways for safeguarding employees and securing the company’s intellectual property.
A Legacy Worth Saving
For Saab enthusiasts, the Emily GT represents more than just a potential business deal—it symbolizes the enduring spirit of Saab’s innovation. The Trollhättan plant, despite its gradual dismantling, stands as a testament to decades of Swedish engineering excellence.
Selander’s refusal to give up on the Emily GT reflects the resilience of NEVS and the community that has long supported it. As negotiations continue, many are hopeful that this chapter will conclude not with the closure of a factory, but with the birth of a new era for Swedish electric vehicles.
