Saab / NEVS

G. Noble Editor/Reporter CheersandGears.com Tuesday, 21st February, 2011 No doubt about it, the drama surrounding the bankruptcy of Saab almost seems scripted enough to be fit for daytime television at times. The latest news to come out of Trollhättan is no exception, now that the Swedish automaker is looking for a new suitor. According to a recent post on Saabs United, Saab's bankruptcy administrators have 6 to 7 bidders interested in purchasing the company and that each bidder is serious

On Wednesday, NEVS AB announced that it has a new owner. Evergrande Group's subsidiary, Evergrande Health, the main investor in Faraday Future, has acquired 51% of the share of NEVS AB. NEVS bought the remnants of SAAB after Spyker, Saab's prior owner, went into bankruptcy.  NEVS has been using Saab 9-3 bodies to build electric vehicles for China.  They have manufacturing plants in Tianjin China and Trollhättan, Sweden with another under construction in Shanghai China. NEVS AB was foun

When we last checked in on Saab, they had announced a deal with Youngman automotive and a bank in China and were waiting on approval from GM and the Chinese. Well Saab might have just used it's last life. Yesterday, General Motors announced they wouldn't support the new agreement. "We have reviewed Saab's proposed changes regarding the sale of the company. Nothing in the proposal changes GM's position. We are unable to support the transaction," said GM spokesman Jim Cain. And the news gets e

William Maley Editor/Reporter - CheersandGears.com December 20, 2011 If you were thinking about stopping by your nearest Saab dealer to get a steal on a new 9-5, you might want to hear this. Automotive News reports Saab Cars North America issued the following statement: "Warranty coverage is suspended indefinitely for all new Saab vehicles sold. During this period, the warranty booklet must be removed from the owner information packet. For any vehicle sold or leased during this period, the

The old SAAB 9-3 has risen from the dead! The platform, now owned by National Electric Vehicles Sweden (NEVS) is being used as the basis for a "new" electric vehicle.  The 9-3EV has gone into production in Tianjin China in a factory that can assemble up to 50,000 units a year. Further manufacturing facilities are being set up in Trollhättan, Sweden and a new facility in Shanghai China. Back in January, Evergrande Groupe, an investor in Faraday Future, purchased a 51% stake in NEVS for $930

William Maley Staff Writer - CheersandGears.com August 6, 2012 Former Saab owner Spyker has filled a $3 billion lawsuit against General Motors for its actions of blocking the sale of Saab to Chinese automotive firm, Youngman Automotive. "This lawsuit seeks redress for the unlawful actions GM took to avoid competition with Saab Automobile in the Chinese market," Spyker said in a statement. "GM's actions had the direct and intended objective of driving Saab Automobile into bankruptcy, a resul

October 10, 2013 Drew Dowdell Managing Editor - CheersandGears.com It is October 10th, a bit too early for Halloween, and yet here is a zombie starting to show signs of being undead. National Electric Vehicles Sweden (NEVS) has confirmed that they have most of the agreements in place with parts suppliers to restart production of the 9-3 in Trollhättan, Sweden within a few months. NEVS is focusing primarily on suppliers in or close to Sweden to allow for shorter lead times, lower cost, and to

William Maley Editor/Reporter - CheersandGears.com January 18, 2012 The Saab story is only getting worse and worse. Last week, Saab reportedly sent 100 new vehicles to the crusher as part of the receivership process. The crushed cars include some pre-production 9-5 SportCombis and 9-4Xs. Reports say that Saab was able to save one of the 9-5 SportCombi for the Saab museum, which conflicts with reports of the Saab museum being closed and going into liquidation. The museum, which has a collecti

December 19th, 2011 - Drew Dowdell - CheersandGears.com - It looks like the end is nigh for troubled Swedish automaker SAAB who filed for bankruptcy in Vänersborg, Sweden today. After receiving a number of life lines in the way of funding promises via various Chinese banks and auto manufacturers, the final life line by Youngman Automotive was cut when General Motors officially stated that they would not approve the deal. Just last week, the court appointed administrator for SAAB's voluntary r

William Maley Editor/Reporter - CheersandGears.com December 14, 2011 Last time on the story of Saab; Guy Lofalk, the court-appointed administrator of Saab’s voluntary reorganization filed paperwork to end the reorganization and the Swedish courts would make decision this Friday. But like all other times, Saab has found a lifeline to keep them afloat. This time, Saab has found two. Lifeline #1 comes from Youngman Automotive who sent Saab 3.45 million Euros (about $5 million U.S. dollars) to c

December 21, 2012 Drew Dowdell Managing Editor - CheersandGears.com How do we know the world is not ending today? Because Saab issued a press release. If they are still alive, then so are the rest of us. Saab Automobile Parts North America entered into an agreement with General Motors Company on December 17th for 179 mostly prior Saab dealerships and service centers to provide warranty and service work for all Saabs built prior to the 2009 model year. The agreement does not change the stat

William Maley Editor/Reporter - CheersandGears.com June 13, 2012 Despite the heavy odds against it, Saab will rise up once more. Today, Saab’s bankruptcy administrators, Anne-Marie Pouteaux and Hans L. Bergqvist, announced that National Electric Vehicle Sweden AB has agreed to purchase a majority of Saab. National Electric Vehicle Sweden AB is a consortium made up by Hong Kong-based National Modern Energy Holdings Ltd. and the Japanese investment group Sun Investment LLC. The deal includes

William Maley Editor/Reporter - CheersandGears.com December 30, 2011 Saab's bankruptcy is attracting a lot of companies wanting to buy up pieces of the Swedish automaker. Last week, we reported that Youngman Automotive got their hands on Saab's new Phoenix platform. Now, an Indian automaker wants a piece of the griffin. Bloomberg reports that Mahindra & Mahindra, an Indian SUV manufacturer, is looking into buying up pieces of Saab. Two people familiar with the situation say the company i

William Maley Editor/Reporter - CheersandGears.com December 15, 2011 Guy Lofalk, the court-appointed administrator of Saab’s voluntary reorganization is quitting his post. “The Saab companies and Guy Lofalk have jointly requested that Guy Lofalk will be dismissed as administrator and that lawyer Lars-Henrik Andersson is appointed as a new administrator," said a statement on the Vanersborg District Court website. Saab spokesman, Eric Geers stated that it was Lofalk’s own decision to quit. Ho

William Maley Staff Writer - CheersandGears.com June 28, 2012 Earlier this month, National Electric Vehicle Sweden AB (NEVS) bought up the assets of Saab, except for two key items; the name and logo of Saab. The Saab name and logo are under control of defense company Saab AB and truck maker Scania, and National Electric Vehicle Sweden has to ask for permission to use it. "Every use of the trademark had to be discussed. NEVS can't get hold of the Saab name until we've approved it. That is un

William Maley Staff Writer - CheersandGears.com June 12, 2013 A U.S. District court judge has dismissed the $3 billion lawsuit filed by Spyker on behalf of Saab against General Motors last August. The suit alleged GM blocked the sale of Saab's assets to Zhejiang Youngman Lotus Automobile Co and eliminate a potential rival in the growing Chinese market. "General Motors had a contractual right to approve or disapprove the proposed transaction. The court is going to grant the motion to dismiss

By William Maley Staff Writer - CheersandGears.com February 21, 2013 When an automaker passes on, we're left wondering what could have been. What was coming down the pipeline had the company stuck around? SaabsUnited has the pictures and story behind the next Saab were it still in business, the 9-3 dubbed 'Phoenix'. The new 9-3 was spearheaded by designer Jason Castriota. Castriota was the person behind the PhoeniX concept shown at the 2011 Geneva Motor Show. Castroita had a huge mission

With Saab heading into bankruptcy, companies are coming in to snap up pieces of the brand. Hans Bergqvist, the administrator in charge of liquidating Saab told Swedish publication NyTeknik that many companies are interested in Saab's assets. Berggvist did confirmed that one of the companies interested is Youngman Automotive. This should come as no surprise as the company tried to save Saab until the last minute and has invested tens of millions of euros to help pay for wages and taxes. A spoke

William Maley Editor/Reporter - CheersandGears.com December 23, 2011 Earlier this week, we reported on which companies were going after Saab's assets, including Youngman Automotive and possibly Turkey. Well, one of Saab's biggest assets has been sold to Youngman. Youngman said yesterday, they had purchased Saab’s “Phoenix” vehicle architecture. Phoenix was a homegrown architecture that would begin underpinning new Saab vehicle, beginning with the new 9-3. The architecture is said not have a