IMPORTANT NEWS: National Electric Vehicle Sweden has agreed to buy the assets of Saab Automobile and the sale is expected to be finalized during the summer.

Saturday, September 29, 2012

GM dismisses Spyker's lawsuit over Saab

Early in August Spyker Cars NV, the former owner of Saab Automobile, filed a lawsuit claiming GM deliberately drove Saab into bankruptcy. Last night GM filed its respons to the court dismissing Spykers claim.

"The nub of plaintiffs' complaint is that GM declined to approve the transaction plaintiffs proposed to enter into with Youngman. But the relevant contracts did not permit Saab to consummate the proposed transaction without GM's approval," GM says in its respons.

In its lawsuit Spyker claims that GM had no right to say that it would not support the deal between Saab and the Chinese suitors as the technology which was to be shared between the partners where developed by Saab and was not GM's technology.

"Putting aside whether this argument is factually wrong, it misses the point. GM had the right to terminate its technology license and supply agreements with Saab if there was a change in control of Saab with GM's prior consent," GM says in its respons.

"This right was clear and absolute, and did not depend on how GM's technology purportedly was being handled," GM said.

Tuesday, September 25, 2012

Saab Powertrain chief to NEVS

Here is a piece of news that gives me some faith. Former head of Saab Automobile Powertrain AB, Kjell AC Bergström has joined the managment at NEVS. Bergström is the man who where supposed to retire a few years ago, but decided to keep working for Saab and see the Phoenix arcitecture develop into cars. Now he has joined NEVS as head technical development. So maybe there is a future for Saab after all?

Monday, September 3, 2012

NEVS finalize aquisition of Saab and right to use SAAB brand name

National ELectric Vehicle Sweden has today announced that the deal to buy the assets of Saab Automobile has been finalized. The company has also come to an agreement with the defense and security company Saab AB which gives NEVS the right to use the Saab brand name on future vehicles.

The press release:

National Electric Vehicle Sweden AB has finalized acquisition of the Saab Automobile bankruptcy estates

Sep 03, 2012 10:00 CEST

National Electric Vehicle Sweden AB (NEVS) today announced that the company has finalized its acquisition of the main assets of Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tools AB, effective August 31, 2012. The prerequisites for implementing the NEVS business plan are now in place. The acquisition includes IP rights for the Saab 9-3, IP rights for the Phoenix platform, tools, the manufacturing plant and test and laboratory facilities. The acquisition also comprises all outstanding shares in the property company which owned the Saab facilities in Trollhättan, Sweden. The transaction was conducted as a cash purchase. The purchase amount will not be disclosed.

”The Receivers are very pleased that the transaction involving NEVS and the bankruptcy estates, which all involved parties have intensely worked for over an extended period, is now complete,” said Anne-Marie Pouteaux, Partner, Wistrand, Hans L. Bergqvist, Partner, Delphi, Receivers in bankruptcy for the Saab Automobile estate and Kent Hägglund, DLA Nordic, Co-receiver in bankruptcy for the Saab trademark and trade name rights.

“The efforts to implement our business plan can now be multiplied, focused on the development of a world-class electric vehicle in Trollhättan,” said Karl-Erling Trogen, Chairman, National Electric Vehicle Sweden AB. ”In approximately 18 months, we plan to introduce our first electric vehicle based on Saab 9-3 technologies and a new technology electric powertrain. I would like to express our gratitude and thanks to the receivers for their cooperation during this very complex process.”

“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 Trollhättan,” said Kai Johan Jiang, CEO, National Electric Vehicle Sweden AB.

NEVS is wholly owned by National Modern Energy Holdings Ltd., whose founder and principal owner is Kai Johan Jiang.

NEVS has signed a licensing agreement with Saab AB regarding the rights to use the Saab brand name for its future vehicles. The vehicle manufacturing company is named National Electric Vehicle Sweden AB, “NEVS”. The vehicles and related products and services will be named SAAB. The present logotype will not be used.

Recruitment to the management team and key positions at NEVS is in progress. As of today, about 75 people have received employment offers.