End of the Saab Story: Saab is officially dead, NEVS throws in the towel, but plans new EVs

It seems Saab really was just a lost cause as the car company’s last hope, National Electric Vehicle Sweden, just announced to be ending the Saab automotive brand, saying they won’t use the company’s name on any future vehicles.

National Electric Vehicle Sweden posed as the only glimmer of potential for Saab as the company purchased the debt-stricken rights from Spyker Automotive, who was the original buyer of Saab from General Motors when the corporation went bankrupt. Saab almost dried Spyker’s pockets dry after running out of money, but failed, leading to a potential deal with some Chinese automakers. The deal was stopped however from Saab’s former owner, General Motors, who refused to give up the purchased rights and designs of the vehicles they made, to the Chinese manufacturers.

This then led to National Electric Vehicle Sweden, a national startup, purchased the rights to Saab Automobile, but quickly ran out of money trying to settle the company’s debt. This final decision to lay the Saab Automobile brand is the last step in the the Saab story, with NEVS continuing the development of revising the old Saab 9-3 for EV construction and use, but with the NEVS nameplate. This is from added pressure from parent company Saab AB, who removed NEVS’ right to use the Saab Automotive brand name, meaning the use of the griffon logo was completely off limites.

NEVS was lifted out of bankruptcy as Chinese investors stepped in. The result is a $12 billion deal, made with Panda New Energy, to supply 150,000 Saab 9-3-based EVs by 2020, for fleet use. Another contract was signed to the tune of $1 billion to guarantee China Volant Industry Co., 20,000 of the same Saab-based EVs.

R.I.P. Saab Automobile.

– By: Chris Chin

Source: NEVS

 


Chris Chin

Chris Chin is the Editor-In-Chief of egmCarTech and is a regular contributor to Automobile Magazine.

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