March 17, 2016 / 1:40 PM / 4 years ago

Electric carmaker Nevs signs co-operation deal with China's State Grid

STOCKHOLM, March 17 (Reuters) - Nevs, the China-focused consortium that bought bankrupt Swedish carmaker Saab, said on Thursday it had signed a co-operation deal with State Grid Electric Vehicle Service, a subsidiary of Chinese state-owned power grid group State Grid Corporation.

National Electric Vehicle Sweden (Nevs) spokesman Mikael Ostlund said the deal included research and development co-operation and a framework agreement - but no firm orders - for the delivery of electric cars, minibuses and other electric transport vehicles to State Grid.

Ostlund said the plan was for Nevs to supply electric cars while minibuses and other electric vehicles would be produced by New Long Ma, which is controlled by the provincial government of Fujian in China and in which Nevs has agreed to buy a stake.

Nevs, which bought the assets of 70-year-old Saab in 2012 with the aim of transforming it into a leading electric carmaker, announced its first major framework agreement in December last year, with a Chinese leasing company. (Reporting by Anna Ringstrom; Editing by Susan Fenton)

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