Saab Inks Deal To Sell 20,000 Electric Cars To Chinese Volinco

National Electric Vehicle Sweden, the company that bought Swedish carmaker Saab, has signed a 8.5 billion crowns (about $1 billion) deal with China Volant Industry Co. (Volinco) for 20,000 electric cars based on Saab’s 9-3 sedan model.

20,000 Electric Cars To Chinese Volinco

Volinco intends to use the cars as company vehicles for its employees, and NEVS expects to deliver the cars over the course of three years, starting in 2017.

This latest agreement comes after NEVS signed a $12 billion deal late last year to deliver 150,000 electric cars to Panda New Energy, a Chinese EV leasing company.

The new deal would also allow NEVS to access Volinco’s part suppliers. NEVS still hasn’t sourced the parts for future models it has planned, making this deal a step towards NEVS’s long-term goal of being fully operational by 2020.

NEVS will build and paint components of the electric cars in Sweden and then assemble them in China.

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