After declaring bankruptcy earlier this year, the latest chapter in Saab’s saga has the brand apparently delving heavily into the electric vehicle market in the coming years.

And after ALG reported earlier this year that the nameplate had been “stripped” of most of its value as the automaker fought to stay in business, this shift may be a new beginning — but the OEM may be quite different than what Saab fans have seen over the decades.

National Electric Vehicle Sweden AB (NEVS) and the receivers of the Saab Automobile bankruptcy estate revealed they signed a purchase agreement which covers the main assets of Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tools AB, and aims to focus on developing its business building electric cars for the Chinese market.

And this agreement includes all outstanding shares in the property company which owns the Saab Automobile facilities in Trollhättan, Sweden;  the price for the assets has not been disclosed.

Of course, the automaker’s former parent company General Motors still owns Saab Automobile Parts AB, as well as intellectual property rights for the Saab 9-5, which were not included in the recent purchase agreement.

Onlookers became very familiar with GM’s stake in the company, when it balked at Saab’s plan to have Chinese investors take majority stake, when the company was looking to reorganize. To read more about Saab’s efforts to reorganize earlier this year, see the Auto Remarketing story here.

Commenting on the latest news from Saab, Anne-Marie Pouteaux, partner, Wistrand, Hans L. Bergqvist, partner, Delphi, receivers in bankruptcy for the Saab Automobile estate and Kent Hägglund, DLA Nordic, co-receiver in bankruptcy for the Saab trademark and trade name rights, said,  “The sale to NEVS is our most important action to realize the assets of the estate.

 “From the outset, it has been our ambition to find a comprehensive solution by the summer, so we are very pleased today, having reached this agreement,” she added.

And what are NEVS’ plans for its new purchase?

NEVS — an international consortium formed by Japanese, Swedish and Chinese stakeholders — noted it will establish a new automobile venture in Trollhättan, solely dedicated to development and manufacturing of electric vehicles.

And the company plans to launch a new model as early as year-end 2013/2014.

Officials noted the first model to be developed will be based on the current Saab 9-3, which will be modified for electric drive using EV technology from Japan.

Meanwhile, the company will also be developing an all-new model, also based on technology from Japan.

“Marketing and sales will be global, with an initial focus on China, projected to be the largest and most important EV market,” officials noted.

Explaining this logic further, Kai Johan Jiang, founder and main owner of National Modern Energy Holdings Ltd, the majority shareholder of NEVS, noted, “China is investing heavily in developing the EV market, which is a key driver for the ongoing technology shift to reduce dependence on fossil fuels.

“The Chinese can increasingly afford cars; however, the global oil supply would not suffice if they all buy petroleum-fueled vehicles. Chinese customers demand a premium electric vehicle, which we will be able to offer by acquiring Saab Automobile in Trollhättan, Jiang continued.

And as NEVS noted it aims to become a “leading manufacturer of electric vehicles,”  recruitment to a number of key positions in the company is in progress.

Next, the company plans to hire skilled engineers to the Trollhättan site, in order to immediately start the product development.

The development will be conducted in collaboration between Swedish, Japanese and Chinese engineers, officials added.

“I am delighted that we can build on Saab Automobile’s skills in vehicle design and production to start a new future-oriented venture in Trollhättan, where world class manufacturing facilities are available,” said Karl-Erling Trogen, chairman, National Electric Vehicle Sweden AB.

“We will match Swedish automobile design and manufacturing experience with Japanese EV technology and a strong presence in China. Electric vehicles powered by clean electricity are the future, and the electric car of the future will be produced in Trollhättan,” he concluded.

Effect on Value

So as the brand is in for a facelift, what is the prognosis for consumers and dealers left with Saab units on their driveways and lots?

Earlier this year, ALG set out to project the fallout for recently discontinued Saab, which the firm contended may have already “bottomed out” in terms of value, releasing a Whitepaper on the subject.

In its findings, ALG concluded: “The analysis reveals that the Saab nameplate has been stripped bare of much of its value, and that there may not be much more room for decline. In fact, Saab’s value seems to have bottomed out over the past few years.”

Even back in 2005, Saab’s 36-month auction values were already below those of Chevrolet, several years prior to General Motors revealing a strategic review of the Swedish brand.

But this wasn’t always the case. About a decade ago, Saab had a bit of a heyday; ALG’s Used Statistical Brand Value Model had Saab significantly besting the industry average back in 2001 and ranking comparably to Acura.

That said, in the past ten years, Saab’s decline in this measure was “by far the largest” among automakers, ALG analysts explained.

For more from this Whitepaper, see the Auto Remarketing story here.

Editor’s note: In light of the recent news from Saab, stay tuned to Auto Remarketing for more developments on how this news impacts Saab’s brand value. Editor Joe Overby contributed to this report.