Faraday Future investor buys EV startup that took over Saab


If you haven’t heard of the company, Faraday Future is an American start-up technology company focused on the development of intelligent electric vehicles. China’s Evergrande Group are big investors of Faraday Future, holding a 32% stake in the company, and acquired a controlling stake in NEVS, which is the startup that took over Saab. NEVS bought the assets of bankrupt Saab and attempted to revive the company being an electric exclusive car company. NEVS lost the right to use the Saab name, and essentially all plans went downhill from here.

The new funds from Evergrande will help the company NEVS stick out its mission to develop a wide range of electric cars. From sedans to crossovers to self-driving cars, they have big plans. These vehicles will be introduced in Chine and Sweden to start but will hopefully venture its way to Europe and the U.S. as they grow. The first model has been completed, titled the FF91 crossover, and should be starting deliveries any day now. This new crossover is exciting. Its sleek design and whopping 1,050- horsepower make us wish it was already available in the U.S. The FF91 posts a 2.39 second 0-60 mph time. On top of the great speeds, the FF91 is powered by a multi-motor electric power-train to give it all-wheel drive.  The electric motors draw their power from a 130-kwh battery pack, which will be the largest by 30 kwh when it hits the market. The company says the home charger provided with the vehicle will achieve a 50 percent charge in 4.5 hours on a 240-volt outlet. Maybe someday our very own shop, EuroCar Service, will get the opportunity to repair and service NEVS vehicles.

EuroCar Service is located in Seattle, WA and has been your trusted European vehicle service facility since 1981. Our office is open during the convenient hours of 7:30 a.m. to 5:30 p.m. Monday through Friday. We are happy to repair all makes and models of Saab. We understand that Saab is no longer being manufactured, but firmly believe that with continued repair and maintenance, your Saab can live happily on the road for years to come. As always, we are able to assist with any questions about your vehicle. Your European automobile deserves the absolute best. Give us a call today to schedule your appointment. Or, conveniently use our online booking form by clicking here. We look forward to meeting you and servicing your vehicle.