Chinese energy vehicle leasing company Panda New Energy has placed an order for 250,000 electric cars from Chinese-owned carmaker Nevs, formerly Saab, for $12 billion (11 billion euros), Nevs announced on Thursday.

This is the second order this autumn for National Electric Vehicle Sweden (Nevs), which has experienced major financial woes since being established in June 2012 to take over Saab's assets after bankruptcy.