|
|
|
|
Thread Tools | Display Modes |
09-04-2012, 08:13 PM | #1 |
Scooby Newbie
Member#: 181013
Join Date: May 2008
Location: ⛵⛵⛵⛵
|
Buyer to use bankrupt Saab to go electric
STOCKHOLM | Mon Sep 3, 2012 3:48pm IST
(Reuters) - The buyer of bankrupt Saab completed the deal to acquire most of its assets in a step that advanced its plans to make electric vehicles but said it would not be able to use the Swedish automaker's distinctive griffin head logo. Saab, which has been making cars since 1947, crashed into bankruptcy at the end of 2011, less than two years after General Motors (GM.N) sold it to Dutch sportscar group Spyker. Buyer National Electric Vehicle Sweden AB (NEVS), whose electric vehicles will be based on Saab cars, said completion of the purchase would speed up the process toward the start of production. "In approximately 18 months, we plan to introduce our first electric vehicle based on Saab 9-3 technologies and a new technology electric powertrain," Karl-Erling Trogen, NEVS chairman, said in a statement on Monday. NEVS aims to make cars for the Chinese market as it sees the authorities there investing heavily in electric vehicles. The finalization of the deal, including the main production plant, came after NEVS agreed with truck maker Scania (SCVb.ST) and defense and aerospace group Saab (SAABb.ST) not to use the griffin symbol, though it can use the name Saab. The brand had been owned by the three companies, which in the past were one company. NEVS is wholly owned by National Modern Energy Holdings Ltd., whose founder and principal owner is Chinese-Swedish businessman Kai Johan Jiang. "Engineering and development of our first electric vehicle has been underway for an extended period in China and Japan, and now with the manufacturing facilities in our possession, we are able to continue development work on site at Trollhattan (the Saab plant)," Jiang said in a statement. Despite its admired brand and a loyal fanbase, Saab had struggled for years to survive against bigger competitors. Spyker bought the carmaker in early 2010 but soon hit financing problems and spent months stitching together deals with Chinese companies. GM, which retained licensing rights and operates in China in a partnership with state-run automaker SAIC Motor Corp Ltd (600104.SS), late last year effectively blocked deals with other Chinese companies. Spyker has filed to sue GM for $3 billion, saying it deliberately let Saab go under. GM has rejected the allegation. Spyker has also struck a deal with a would-be Saab investor, Zhejiang Youngman Passenger Car Group, to make upmarket cars based on a platform and technology developed for Saab. http://in.reuters.com/article/2012/0...88207J20120903
* Registered users of the site do not see these ads.
|
09-04-2012, 08:19 PM | #2 |
Scooby Specialist
Member#: 88288
Join Date: Jun 2005
Chapter/Region:
NESIC
Location: Central MA
Vehicle:.... At this point, even I have lost track. |
Let it go...
|
09-05-2012, 09:36 AM | #3 |
Scooby Newbie
Member#: 154753
Join Date: Jul 2007
Vehicle:2008 STI DGM |
Though I am not a reading-optional, anti-environment, anti-science, ultra right wing oil consortium nut bag, I can see that this venture has FAIL written all over it.
|
09-05-2012, 12:17 PM | #4 |
*** Banned ***
Member#: 24038
Join Date: Sep 2002
Chapter/Region:
South East
Location: Godspeed Cale...
|
Why?
All the tooling, production lines, etc. are in place to churn out production, market-ready 9-3-like unibodies. Makes perfect sense for someone to use an existing design/production line to build their electric cars. In fact, I bet it's saving them boat loads compared to developing and producing their own chassis/body/interior. |
09-05-2012, 12:18 PM | #5 | |
*** Banned ***
Member#: 24038
Join Date: Sep 2002
Chapter/Region:
South East
Location: Godspeed Cale...
|
Quote:
But selling to China? They could easily sell 9-3 look-alike e-vehicles over there. |
|
09-05-2012, 12:26 PM | #6 | |
Scooby Specialist
Member#: 88288
Join Date: Jun 2005
Chapter/Region:
NESIC
Location: Central MA
Vehicle:.... At this point, even I have lost track. |
Quote:
|
|
09-05-2012, 12:33 PM | #7 |
Scooby Specialist
Member#: 8124
Join Date: Jul 2001
Location: Denver, Colorado
Vehicle:1998 Old Grey Mule Regacy Rype R |
They are letting SAAB die. They can't use the name or logo, just the hardware.
|
09-05-2012, 12:57 PM | #8 |
*** Banned ***
Member#: 24038
Join Date: Sep 2002
Chapter/Region:
South East
Location: Godspeed Cale...
|
|
01-18-2013, 11:22 PM | #9 | |
Scooby Specialist
Member#: 163775
Join Date: Nov 2007
Location: Somewhere spilling coffee
Vehicle:2023 BRZ CWP |
Update.....
Quote:
|
|
01-22-2013, 06:17 PM | #10 |
Scooby Guru
Member#: 46277
Join Date: Oct 2003
Vehicle:H1 Viper LP640 FGT |
Seems like a great way to revive the brand (going all electric). But I'm not entirely sold on the way they are going about it. I will be following this in hopes of something great to come of it, but in all reality. . .
|
01-22-2013, 07:40 PM | #11 |
Scooby Specialist
Member#: 64196
Join Date: Jun 2004
Chapter/Region:
RMIC
Vehicle:2010 Family Sedan |
The death of Saab is sad. A new EV manufacturer is a potentially good thing.
|
08-22-2013, 12:57 PM | #12 | |
Scooby Guru
Member#: 128484
Join Date: Oct 2006
Chapter/Region:
International
Location: Germany
Vehicle:2006 EDM WRX STI WRB |
http://europe.autonews.com/apps/pbcs...#axzz2ccTHTHat
Quote:
|
|
12-03-2013, 04:31 PM | #13 | |
Scooby Newbie
Member#: 41230
Join Date: Aug 2003
|
I'm surprised no one has posted this yet - perhaps nobody cares about Saab anymore?
http://www.bbc.co.uk/news/business-25180698 Quote:
|
|
12-03-2013, 06:05 PM | #14 |
Scooby Specialist
Member#: 180111
Join Date: May 2008
Chapter/Region:
MAIC
Location: Lost in the DMV
Vehicle:* 2004.114.3 STi Aspen White |
I was reading about it the other day. Also there is information on their site...I really would like Saab to succeed...but right now they won't even tell you where the engines are coming from in these new models. BMW was supposed to supply them for future models under Spyker and if that were still the case, I'd have high hopes...but I don't believe it is. I am scared for the brand...I don't know if it can escape death for a fourth time.
People always blame GM for the companies woes...but that was the reason they could acquire them in the first place...the company was already plagued with problems...Even with some of the best designed vehicles Saab had seen in years being produced as Spykers took ownership, their inability to revive the brand was a clear indication that only a large company like GM could could bear the burden of a failing brand like Saab...hopefully this company has a good plan. http://www.saabcars.com/ |
Thread Tools | |
Display Modes | |
|
|