NEVS news

[Tweek's Turbos]

I'm not an economist, but I hope this doesn't forshadow the bubble in China finally bursting.

[Gepe]

SU had the Mahindra name as a possible owner. They are already a producer and known even if for utes and such - and were in the frame prior to NEVS etc. As for the 'bubble' some commentators were suggesting local elections in China had not returned those who were in favour of this move?
TTFN

[tunnanxwd]

Does anyone remember the announcement that there were a few billion dollars on the table (Chinese), for R&D and much of this activity just may be a smokescreen of activity to qualify for a nice big handout?

Hmmmmm? That also sounds akin to the flap, fuss and ado that Muller and company pullled when they were going to sue everyone and their mother unless they got their fingers on the EIB R&D funds admittedly, I am of the school who is of the opinion that any attempt to actually produce another Saab was half hearted at best. Of course the EIB was enraged and saw through this and refused to release the funds. Despite the saber rattling by their "ace" legal staff. Later of course followed by arrest warrants for tax evasion and Lithuania has Saab listed as a company used to hide funds pilfered from the SNORAS bank for one.

[Dave T]

I'm a few days behind. Looks like production has stopped according to SU. Didn't they just build about 100 cars over a few months?

[nordwulf]

Production may resume after the summer holiday in Sweden so probably at the end of August.

Mahindra shows interest and may buy a stake in Saab.

Mahindra & Mahindra likely to buy stake in Swedish premium car maker Saab - The Economic Times

Other media shows Dongfeng is also interested.

After the summer, the economic situation hopefully brighter for Nevs. For some time, negotiations with two Asian automotive manufacturers which at least one is interested in becoming a partner with Saab. Nevs spokesperson Mikael Östlund did not want to mention any names, but according to multiple sources, it is about Indian Mahindra (who fought with Nevs about buying Saab Automobile after the bankruptcy in December 2011) and the Chinese automotive giant Dongfeng.

Nevs håller Saabfabriken stängd till augusti | Motor | SvD

I wish I would be excited about this latest interest in Saab but I just lost interest in what happens next..

[CaptainMediocre]

I'll get excited when new Pheonix based Saabs are for sale in the US. (99.99% sure that is never going to happen)

[nordwulf]

From Sveriges Radio:

More borrowing by NEVS to keep Saab afloat

Swedish Radio News reports that the company that now runs Sweden’s venerable Saab automaker has put up vehicles and property as collateral to keep the business afloat.

The head of communications for Nevs, Mikael Östlund, says they have now taken out an additional SEK 58 million in loans to pay suppliers who demanded payment up front. This follows the company putting up its stock of vehicles as security two weeks ago to finance an SEK 38 million loan to pay taxes and other fees.


Nevs, which plans to relaunch Saab as a maker of electric vehicles, stopped production in May because of a cashflow problem from China. The halt has been extended through the middle of August.


Swedish Radio news reports the troubled company is now in talks to vehicle makers from India and China on collaboration.

More borrowing to keep Saab afloat - Radio Sweden | Sveriges Radio

[Dave T]

I wish I would be excited about this latest interest in Saab but I just lost interest in what happens next..

Saab was at its peak around the 1980's. In the U.S., it was either a hit or a slightly unusual car, depending on the region. Now Saab is a tiny, off and on again workshop. It will be extremely hard for them to come back.

They can't survive as a workshop like Koenigsegg. They don't have the backing of a large company, like a workshop similar to Bugatti. Other smaller names, like Alfa Romeo, have the backing of a large company. The smallest car companies that Saab could copy are Volvo/Geely, Suzuki, or Subaru. However, all of those are much larger companies than Saab.

[Gepe]

The problem was lack of investment therefore lack of development for future models.
Cars were better / safer / more reliable than most others but were seen as a premium brand with higher servicing costs & depreciation.
Should have been re-launched for a world market LHD and RHD models and the engines updated for economy and efficiency.
LHD and battery power reduced the potential market for the cars too far.
As for being an independent producer they were too small for a large manufacturer and too large for a small one - again a bitter pill but the wrong decision! So for that aspect I agree with Dave T.
Hope things work out for them at SAAB.
TTFN

[nordwulf]

Production delayed again...



From Sveriges Radio:

The crisis for carmaker Saab continues. Earliest in September can be built Saab cars in Trollhättan plant again. The owners Nevs lacks money and has once again postponed the restart of production.

Nevs Communications Manager Mikael Östlund says negotiations to bring in new money continues.

- Negotiations continue to do well and we will forward all the time, says Mikael Östlund echo.

How urgent is it that you are clear in view of the economic problems?

- It is clear in the very strained situation we are in, it is important to be ready as soon as possible. But the important thing is that it's fast but it will be as good as possible, says Mikael Östlund.

Saab owner Nevs negotiating with two Asian vehicle manufacturers, reportedly will be about Indian Mahindra and Chinese Dongfeng. But the negotiations drag on, and yet there is no agreement. Any timeframe for when everything will be finished has not, according to the company.

Since contracts are not clear prolongs automaker now stoppage of production in Trollhattan, and not earlier than the beginning of September, production may get going again.

- We can start production earlier than 37 weeks, says Mikael Östlund.

It was two years ago that Nevs bought large parts of Saab Automobile's bankruptcy and the situation now resembles the one that was in the summer of 2011., That was before Saab Automobile's bankruptcy, and even then, the economic problems of major car manufacturer.

In December last year, started Nevs construction of cars in Trollhättan and about 400 cars could be built before production was stopped in May because there was no money to pay the subcontractors.

Around 600 people are now working at the company and many have gone on vacation while the future is uncertain for now. But employees need not be concerned that the negotiations should fail, says communications manager Mikael Östlund.

- No, our goal is to make it good, he says.