Boston-Power Joins Swedish EV Coalition

US lithium-ion battery maker Boston-Power Inc. is part of a coalition of Swedish automotive organizations designing an electric car based on the Saab 9-3 sedan, according to numerous reports.

The coalition received a grant from the Swedish Energy Agency equivalient to $12 million for the work, and the coalition said it intends to make more than 100 vehicles next year. 

The coalition includes includes drivetrain maker Electroengine AB; Power Circle, the Swedens’s electric-power trade organization; and the Innovatum Technology Park.

Boston-Power, which manufactures its batteries in China, is primarily involved in making batteries for laptop computers, though the company has been looking for an opportunity to break into the electric vehicle market. 

Saab is tied up in financial difficulty, and parent company General Motors NYSE: GM) said it hopes to find a buyer for the brand by the end of the month or it will consider closing it down. 

The future of the Swedish coalition is clouded further by the fact that  Beijing Automotive Industry Holding Co. just purchased the rights and equipment to make the Saab 9-3 (as well as the 9-5) for $197 million, Reuters reported on Tuesday.


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