When bankruptcy made Saab fall off of its pedestal in the early 2010s, NEVS (New Electric Vehicle Sweden) purchased its assets. NEVS began working on an electric version of the Saab 9-3 (called the 9-3EV), offering around 175 bhp and 190 miles of range. Despite several deliveries in 2018, the NEVS 9-3EV never reached the mass production stage.

Within the next two years, China-based Evergrande Group purchased a majority stake and eventually wholly acquired NEVS. Within this period, the Chinese conglomerate faced a series of financial woes leading it to want to offload the recently acquired automaker. To prevent bankruptcy, NEVS announced it would enter "hibernation mode" and lay off 95% of its employees.

In light of the "hibernation" announcement, the team at NEVS decided to showcase one of their creations, the Emily GT, in early 2023. The Emily GT is a Model S-size sports saloon packing a massive 175-kilowatt-hour battery pack, targeting the 600-mile range mark. It comes equipped with four in-wheel electric motors allowing for true torque vectoring.

Sharing the Emily GT with the world was to reveal the firm's technology and gain investors to save the company. In a recent report made by Saab Planet, the team's plan worked. An unidentified investor signed a purchase intent letter for the Emily project.

Within the purchase agreement, the Trollhättan, Sweden, assembly facility will once again commence production. More information will likely surface next month, but for now, Saab's spirit has been given a second lease on life.

Details regarding the new brand have yet to be released, but the Saab name might not be in use due to legalities. Some other names have been floating around, but there is no official information now.

Regardless of the moniker, the Emily GT captures the essence of Saab in a modern package. With its signature floating roofline and muscular proportions, the electric sedan embodies the vision of Saab's 9-5 Aero successor.

Gallery: NEVS Emily GT