It's - again - about the dear money. And I actually hoped that situations like this would be far behind us. After the usual sources in Trollhättan have been showing the red flag for some time, it has been official since yesterday. NEVS has a problem.
The solution: liquid funds and more reliable shareholders than the representatives of Qingdao seem to be. And - this is important: the situation cannot be compared to what we experienced a good three years ago.
NEVS is not Spyker - Kai Johan Jiang is not Victor Muller
So far, NEVS was conservative, you could also say prudently, on the way. Prefer not to talk too much, to promise too little, and then to surprise in the end. With this strategy, you have done well, and that now, partly without fault, out of step, is tragic.
You do the right thing in this situation. NEVS pulls the emergency brake before a mountain of debt pile up. The assets far outweigh the liabilities, they said yesterday in Trollhättan. With the suppliers and partners one is in the open dialogue, important co-operation partners and the politics were informed before the public about the situation.
New partnerships should address the situation
NEVS is negotiating with two car manufacturers to secure the Saab future. One manufacturer would like to buy itself as a long-term shareholder, another is interested in a development partnership for the upcoming Phoenix platform. The talks have been going on for a few months, there is a signed, non-binding letter of intent. A viable solution will be presented in June.
NEVS is an interesting partner. The new platform, now free of GM pitfalls, is almost finished. Many companies would like flexible platforms. Both in emerging economies and in the old world.
What took a damper yesterday is the option for the Saab future. No matter how the story goes on, the story stalls, and above all it takes time.
The image damage is there
It would have been nice if NEVS could have avoided a press release like yesterday. Because it is also clear: the image of NEVS has received a first scratch. How deep the scratch will be depends on how quickly and professionally you can correct the situation.
Suppliers and development partners could look more closely in the future and the situation will not become any easier in the medium term unless a major partner with first-class credit ratings enters the market. And probably the entry of additional shareholders for the future of the brand is without any alternative.
NEVS seems to be able to profit in Sweden at least medially from the previous reconstruction work. Because the press deals relatively well with the Saab situation, critical commentators are very cautious.
What happens in Trollhättan is tragic and counterproductive for the brand. But for us, in the year 4 without new cars, nothing changes. Because NEVS secures neither jobs nor a dealer network, nor has one committed itself to some extent for Germany.
The Saab situation in Germany
Therefore, it is good to distinguish between the future option in Trollhättan and the reality in Germany. At our spare parts supply and for the Saab partners the current development does not change anything. And just in recent weeks, the situation for Saab fans and owners has developed positively.
The Saab Service Club is under construction, the first Saab customer magazine has been available for four years. The service network is being actively expanded by Orio Deutschland GmbH, and gaps on the map have been closed with a revised concept. I'll cover it in detail in a separate article.
These are current events that are positive and important to our vehicles and Saab passion. And my Saabs, the daily ride and the fun with it, are more present to me than the development in Sweden.
NEVS has been committed to building up. But in the current earnings, the investors are nothing else than the previously unredeemed change to a possible future with a new generation of vehicles. But at least an option. And yes, I would like a quick solution to the problems. Because I do not like writing articles like these anymore.
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