National Electric Vehicle Sweden AB acquires the main assets of Saab Automobile

We knew it was a possibility but it's sad to see the actual news. While some may cheer about the company being sold to a new owner, there isn't much in it for the regualr Saab driver and enthusiast. The plan is to built electric vehicles based on the old Saab 9-3 with Japanese technology. And they are going to be marketed in China. They are buying the factory and technology but they are not buying the spirit of Saab. Not sure but I think it still remains to be seen they are allowed to use the Saab name. I hope they won't.

Nothing about the deal is good for current Saab owners, dealers, importers and others. The only good thing is Saab Parts is going to continue as an independent company, as Hirsch mentioned in the other Saab Parts news thread.

Saab is dead, long live Saab!

I don't know. Saab has always been ahead of the curve. It all seems rather fitting really.
It's not as if we were their original intended market when they began building gas cars.
A Saab electric can't be all bad.

Says the 8 valve Luddite!

I just have a hard time getting excited about electric cars. Perhaps they can make car air fresheners that smell like oil and gasoline. And make a sound generator that makes throaty engine sounds. I just can't see enthusiasts bragging about how they tuned their engines and tweeked another few extra kWs or bolted on a bigger turbo like the good old days.

And it is not all bad, of course. It is great there will be a use for the factory, jobs for people in Trollhattan and other areas, suppliers and so on. Just not for the Saab we used to know.

From Svenska Dagbladet:

Positive reactions on the Saab deal

The positive comments were many after the declaration of the National Electric Vehicle Sweden (Nevs) buys Saab's bankruptcy estate.

- Here we go, said Paul Akerlund (S), Mayor of Trollhattan, one of those who rejoiced in the purchase.

- Saab has resurfaced, with continued production in Trollhättan. The words are wonderful for me to say, continues Paul Akerlund.

In Trollhättan, it has been happy noises today. Enterprise Annie Loof is also positive, following the announcement.

- This is great news for the automotive industry, for the region and in this particular case also for the conversion of the fleet, she said.

Prime Minister Fredrik Reinfeldt said he had time to study the agreement yet. He can not say if the state will have to pay for any costs in the long run.

- I have not been able to go through the presentation. Our approach has been that we should not load the taxpayers, but we will analyze. All parts are not sold, if I understand correctly, said Reinfeldt.

Social Democratic party leader Stefan Löfven says the deal is good for the Trollhättan region and Sweden. That it is all about electric cars he sees as positive.

- It seems to me that there will be electric car production. I think this is the future. There will be something new, says Löfven.

Graduate Engineers also welcome news.

"We are delighted with our engineers in Trollhättan in recent years uncertainty shown on an unparalleled loyalty. Now they finally pursue whatever they want and do best - developing new cars for the future. "

But union IF Metall Federal Chairman Anders Ferbe would not charge a victory in advance. He is careful to point out that many pieces of the puzzle is in place before there can be output to a number of IF Metall members can return to work. Anders Ferbe is pleased that the uncertainty about Saab's future becomes clearer.

"We are excited with a focus on electric cars from an international perspective is the right time. In Sweden we have too few electric cars in operation and is far behind many countries. With the investments now are likely to open new export opportunities, "writes Ferbe in a statement.

Although Union thinks it is positive that the electric vehicle consortium buys Saab's bankruptcy estate. Chair Cecilia Fahlberg hope that the news could mean that employees' skills are utilized.

"Now there are opportunities for a much needed and positive injection into the region's businesses as well as a forward-looking technology. The Union has already highlighted the need for Saab employees' broad and solid skills can be used. Hopefully, today's ruling is a step in that direction, "she wrote in a statement.

There was also a day of rejoicing for the administrators who worked to find a buyer for Saab.

"Sales to Nevs is our most important measure to realize the assets of the bankruptcy. Our ambition has always been to find a comprehensive solution before the summer, so today we are very pleased to have reached this agreement, "said the administrators said in a statement.


The receivers have supported Saab's former owner Victor Muller at a distance, he too feels satisfied after the transaction.

- I have done what I said I would. I have been extremely anxious to find a buyer so that my employment can return to their jobs - it has been the main goal, he says.

The future of Saab Automobile AB
Press meeting Trollhattan
June 13, 2012

Kai Johan Jiang
Founder - National Modern Energy Holdings Ltd.

Attachment 7967

Three cornerstones for the future

We want to unite:

• Swedish manufacturing and design skills
• Japanese advanced technology
• China's progressive initiatives in sustainable transportation solutions

Our vision for the new company is to be the leading manufacturer of electric cars

The global context

• Large demand for sustainable automotive technology
• New technology is available — but has not reached the market
• The automobile industry is highly competitive

Targeting the growing Electric Vehicle market

Attachment 7968

EVs become crucial for China’s energy security

Fact: China’s oil demand would exceed world production if the country reached US vehicle penetration levels

Attachment 7969


Our business plan

The Saab Automobile 2011/2012 lineup
We will use IP rights for the 9 3

Attachment 7970

The Trollhattan plant - a world class production facility

Attachment 7971

The Saab Automobile brand

• A long and proud history of sophisticated design and innovation
• We will use this as a foundation — for our electric vehicles
• Important for customers, employees and suppliers

Scope of the agreement

We have acquired

• A world class production facility including the buildings, test facilities, and the Tools company
• IP rights for the Saab 9 3 and the Phoenix platform

Not included

• The spare parts company (Saab Automobile Parts AB)
• IP rights for 9 5 and 9 4X.

A dialogue regarding the brand is in progress

Components we will add

• Advanced Japanese EV technology
• Collaborative Swedish, Japanese and Chinese engineering
• Global marketing with initial focus on China, the largest and most important market for electric vehicles

We will recruit the best talents to implement our business plan

The EV product plan

Type1EV

Continue to develop 9-3 for electric drive
Launch target: year end 2013/2014

Type 2 EV

A completely new model. Based on cutting edge EV technology from Japan and the Phoenix platform

Owners and financing

National Modern Energy Holdings Ltd.

• Founded in 2004 by Mr. Kai Johan Jiang
• Incorporated in the British Virgin Islands, managed from Hong Kong
• Majority owner of State Power Group, a Beijing-based private enterprise that pioneers renewable energy in China
• State Power Group operates 28 biomass power plants and develops technology for wind power, efficient energy storage solutions and biofuel boilers
• The group employs over 7,000 skilled professionals

Sun Investment LLC

• Sun Investment LLC was established to finance outstanding Japanese technology for high performance sustainable solutions
• The company supports development of green technologies in various market segments, including renewable energy, energy storage/management and recycling
• The company aims to bring EV technology to the world market
• It is owned by private investors, banks and businesses

Financing

The long term financing is secured from the owners to implement the business plan
No approvals from the Chinese or Japanese authorities are required to begin with the implementation

Summary

• We have acquired the main assets from the bankruptcy estate, excluding Saab Automobile Parts AB and the IP rights for the Saab 9 5 and 9 4x owned by GM
• We will add advanced EV technology from Japan, combine Swedish, Japanese and Chinese engineering, and we will focus marketing on the China market
• Our business plan will transform the company in Trollhattan into a leading EV manufacturer
• We plan to launch our first EV, based on the Saab 9 3, by year end 2013/2014
• We will recruit the best talents to implement our business plan
• Good business relations with previous and future suppliers are a priority

I don't know, SAAB has always been an innovator in many areas in automotive technology. No need to list them here for a SAAB crowd. Like it or not, electric vehicles are part of our automotive future. Not the only sollution, maybe not the best, but certainly part of it. It will be very interesting if they manage to somehow maintain a SAAB identity with their new electrical vehicles, start innovating on this still developing area of vehicle technology. Tough job? Of course! Maybe SAAB will bring some excitement to electrical vehicles. Only can only hope for it.

I do however doubt we'll be seeing any new SAABs in the US for a while. Electrical or else.

Originally Posted by rpiereck

It will be very interesting if they manage to somehow maintain a SAAB identity with their new electrical vehicles. Tough job? Of course! Maybe SAAb will bring some excitement to electrical vehicles. Only can only hope for it.

They don't mention anything about using the Saab brand and name. Future vehicles may not even use the Saab name.

Is the BAIC C70 still a Saab? It doesn't have a Saab badge but is still based on Saab technology. NEVS 1EV new vehicle based on the Saab 9-3 may not even look like a Saab.

We have acquired

• A world class production facility including the buildings, test facilities, and the Tools company
• IP rights for the Saab 9 3 and the Phoenix platform

"A dialogue regarding the brand is in progress."

I missed that part.

This is severely disappointing
Time to find another brand to have my midlife crisis in

This is what it may look like next month.

Attachment 7973

I read somewhere that their first order of business is electric vehicles for China... I hope they are nothing like every other car China has made.

Saab is dead... the hope died when Muller couldn't save the company.

Originally Posted by Shazam

Saab is dead... the hope died when Muller couldn't save the company.

I keep hoping for less and less. Before it was an independent Saab. Then it was Saab, a division of BMW. Then it was Youngman or Mahindra. Now I am hoping that NEVS will produce the 9-3 epower SportCombi so at least there will be a steady supply of front windshields, front seats, door handles, and brakes for the current 9-3's on the road.

The future of Saab is not good. A standalone electric car company is a very difficult task. True, they might be able to make business decisions much quicker than a large company but one or two years of slow sales and the company is no more. Besides, an electric car is not for me. I might have only 4,000 miles of year of driving suitable for an electric car, which is too little to make economic sense.

Too bad the factory has been closed for over a year. Otherwise it might be possible to make some more 9-3's.

I agree with both of you. The Saab we knew and loved is dead.

The next car that rolls off the assembly line might look like a 9-3, but it might not even be called a SAAB. NEVS did not buy Saab to bring the company back to life, they bought Saab to try and grow a fledgling technology.

is my interpretation of this news correct that all 2010 and 2011 owners are basically now officially orphans with no hope of anyone covering our tails in event of a warrantable issue?

Originally Posted by jeffgtx

is my interpretation of this news correct that all 2010 and 2011 owners are basically now officially orphans with no hope of anyone covering our tails in event of a warrantable issue?

The new owner of the Saab assets has no interest in the brand, history or owners of Saabs. Not sure what country you are in but Saab Cars North America is shut down. So no, there isn't any hope for warranty coverage and recalls for 2010/2011 Saab owners, unless you have an aftermarket warranty.

So, how much stock do we put into the rumors of NEVS developing a petrol powered 9-3 on the Phoenix platform with Mahindra?

Assuming they even get to use the Saab name.

This news? Report: Asian-Backed Buyer to Invest in Saab

Dagens Industri also reported that NEVS is looking to cooperate with Mahindra & Mahindra Ltd., India’s biggest sport-utility vehicle maker, on the development of Saab Automobile’s Phoenix platform. The paper cites a source saying negotiations between NEVS andMahindra & Mahindra will be initiated immediately.

Mahindra & Mahindra is one of the companies that have shown interest in the assets of Saab Automobile, according to Swedish press reports.

The paper cites a source saying...

I would like to believe it will happen but a) DI hasn't been the most reliable source of news and b) I don't get my hopes up on rumors anymore. Would be cool though...

SaabWorld - New image of the next generation Saab 9-3

Though they've taken over the Trollhattan plant, I don't see how using the SAAB name benefits an electric car company marketing their products in China. Whatever old brand equity the nameplate has in that country would not translate to selling more electric cars.

The SAAB name would be far more valuable to somebody applying it to a new entry-level line of cars for their existing luxury mark. Daimler-Benz comes to mind; fighting off their closest competitors, VW-Audi/Porsche and Mini-BMW, with one or two entry-level SAAB models to their M-B brand. Of course Daimler would need to express an interest and have the vision to create an extended line up. Their efforts with Chrysler and "Dr. Z" reveal a unique level of incompetence for the task. Not very encouraging at all...

Still, the price for buying the SAAB brand name continues to fall. Anyone could pick it up cheap, getting cheaper all the time.

Originally Posted by #1SAAB12-17-11

Though they've taken over the Trollhattan plant, I don't see how using the SAAB name benefits an electric car company marketing their products in China. Whatever old brand equity the nameplate has in that country would not translate to selling more electric cars.

The SAAB name would be far more valuable to somebody applying it to a new entry-level line of cars for their existing luxury mark. Daimler-Benz comes to mind; fighting off their closest competitors, VW-Audi/Porsche and Mini-BMW, with one or two entry-level SAAB models to their M-B brand. Of course Daimler would need to express an interest and have the vision to create an extended line up. Their efforts with Chrysler and "Dr. Z" reveal a unique level of incompetence for the task. Not very encouraging at all...

Still, the price for buying the SAAB brand name continues to fall. Anyone could pick it up cheap, getting cheaper all the time.

China? Since Saab went on sale there, they never sold more than 1000 car a year - most years it's been around 600 and the last 2 years the sale number was like 30/33 for the WHOLE YEAR in the WHOLE COUNTRY.

Saab is only appreciated by the very few enthusiasts, like most of the rest of the world, being a super materialistic culture, Chinese loves their Germans Germans Germans and few Italians. The rest buys Japanese cars en-mass.

NEVS don't stand a chance to push Saab branding, NOT a chance, mark my word for it - indeed I am surprised they even bothered to acquire the brand and logo.

The only way they may succeed there is if they somehow use their relationship with the communist Party and get the EVs in as government cars. What does that say about the product?

On Chinese Saab forums I have yet seen a single positive comment about NEVS. Most Chinese Saab fans are doing what are are doing - hoarding parts for their cars to prepare to run them for as long as possible and waving goodbye to a brand they once loved.

Funny how my comments about this has been censored at SU. Some mods there have *way* too much personal connection with the former staff @ Saab.

I like Saab because of their cars, not because of their staff - I extend my good will to them, but if they no longer make cars that *I* want, then there's really no reason for me to feel like a part of that SU Family.

I think I'm eyeing up that Volvo S60...