NEVS reconstruction allowed

The court in Vänersborg today accepted the request of NEVS for reconstruction. One of the reasons for this is the committed loan of 20 million Swedish Krona from principal shareholder Kai Johan Jiang.

NEVS - National Electric Vehicle Sweden AB © 2014 saabblog.net
NEVS - National Electric Vehicle Sweden AB © 2014 saabblog.net

The sale of the development company in which the Phoenix platform was parked should be completed within a month. NEVS would then receive funds that would enable the company to settle its liabilities and enable the company to survive for another year.

The judges also see "great progress" in negotiating with a potential new major shareholder. The judges see the goals of NEVS as “realistic and achievable”. The electric car manufacturer has stated that it wants to enter into new negotiations with Saab AB in order to be able to use the brand name again.

As proposed, the lawyer Lars Eric Gustafsson was commissioned to carry out the NEVS reconstruction, the first creditors' meeting being held on 8. October in Vänersborg.

Is that good or bad? In any case, the drama never ends.

Text & image: tom@saabblog.net

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Herbert Hürsch
Herbert Hürsch
9 years earlier

THE TWO SAVIORS AND THE POT

The first rescuer takes the phoenix and never disappears. The second, however, lovingly attends to the remaining ashes left behind by the first and the grave-ends.

He carefully protects the small, light heap from being simply blown away by the wind, fills it into a potty, and plants a small SAA in it ...

... -men, put it on the white windowsill of a red wooden house and oh wonder, it was a magic SAAmen. A solid automotive company with a whole range of wonderfully typical Swedish vehicles grows out of him.

Certainly!

TTAero
TTAero
9 years earlier

According to the recruiting lawyer, the owner has put in 3 billion SEK, and lent 0,5 billion.
The dept is “just” 1/6 of the capital. According to the lawyer: A big differences to the 2011 situation.
Source: http://www.ttela.se

Herbert Hürsch
Herbert Hürsch
9 years earlier
Reply to  TTAero

I can't find the article.

That would be a load of money. What took him so long and what the hell what he planning before? I mean, he's the owner after all, right?

Why would he wait, till suppliers have lost faith and until the chain is broken again? Why losing time on the development of new models?

Isn't he supposed to put his money where his mouth is?

I don't get it. But thanks for the info anyways.

TTAero
TTAero
9 years earlier

3 billion SEK hav been invested by the owners, and after the trouble started, nevs have borrowed 0,5 billions
http://m.ttela.se/Default.aspx?pageid=1145&parentid=0&link=1.3395231

9-5 Aero
9-5 Aero
9 years earlier

You will now receive 2 million euros from the main shareholder within a short time and sell parts of the Phoenix platform within 30 days. If that actually happens (we've heard a lot, the only thing that has lasted at GM, Muller-Antonov and NEVS in recent years was the word “patience”), NEVS pulled its head out of the loop at short notice and can save your own investments. There is nothing against it. I can't see a coherent business concept for the continuation of the SAAB brand's automobile production and for my mobility needs, the whole story is far too flat for that. I'll stay away from the blog for the next 30 days and then read what the results are. Nothing is impossible, but it would have to take place on a completely different level than this.

Saabfan
Saabfan
9 years earlier
Reply to  9-5 Aero

Dito. The sums that are always at stake are a joke in car production. There are still many on the way, wearing the pink Saab glasses.
Normally you are right, who is here with a lot of passion, should stay away from the blog for a while and in a few weeks to look again to then read the final out.

At any rate, I catch myself every day that this up and down is also reflected in my Saab driving pleasure. Slowly it would feel better to drive a piece of history instead of unrequited love.

Happy weekend everyone!

Mr. Schue
Mr. Schue
9 years earlier

The electric vehicle manufacturer ... haha ​​that's a good joke.

By selling the development company, you get money at short notice. NEVS is likely to secure the use of the Phoenix platform, and if it is against royalties, it would be temporary. Did the chipmaker make AMD with its office space like that? It brings in the first place money and saves in the long run even what the royalties would be less than the most entertaining of the development company.

It is therefore in my opinion so wrong to declare NEVS dead and claim there are no more vehicles just because you want to sell the Phoenix platform.

Nobody expects that the negotiations will not be finished with a cup of coffee. The fact that NEVS always comes around the corner with the same slippery tone that sounded like a tape, and that negotiations do not feel like progressing here, bothers me immensely.

Dave
Dave
9 years earlier

Wow, the ball is still rolling ...! ... take a deep breath ... As long as the workers are initially taken care of thanks to reconstruction, negotiations with serious interested parties continue and the “big flying Saab” watches over the naming rights, there is hope! I wish the “Saab Spirit” that it finally succeeds and that something sensible comes out of it!

Steve
Steve
9 years earlier

It is primarily a battle for the platform ...

The East
The East
9 years earlier

Golden times for Saab collectors: Here my Saab-Scania, next to my GM-Saab, here the Spyker-Saab and there the NEVS-Saab, last of all the ...

Sebastian
Sebastian
9 years earlier
Reply to  The East

That's right, I've got one of the 9-3 sport-suits from the last Spyker months and then actually wanted to switch to the new 9-5 sports wagon, but unfortunately there are only very fanciful collector's prices.

It will be interesting to see how it goes on.

saab 900 s
saab 900 s
9 years earlier

Why are we still discussing nevs it is not a saab it will never be more. The only thing Saab and Nevs have gotten together is:
The same design with a logo that has been out of date for more than 30 years the same work the same city and investors who now ………………… It has nothing to do with the Saab brand so I don't care the only chances the saab has ever again as a car is when bmw saab buys rights they have very few more money and do not fail with "pocket money" (an automobile company should be able to afford 5 million)

Bjorn
Bjorn
9 years earlier
Reply to  Tom

Very well ! Finally someone who keeps his blog “clean”.
On the actual topic: Whoever should save the Saab brand (hopefully) would have bought a huge problem with it. Apart from the fact that there is nothing that can be sold at a profit, the trust of suppliers, dealers and customers in the name is permanently disrupted. Saab is now considered "unpredictable" for everyone. Who the hell is gonna do all this to themselves? Keep all your Saabs, take good care of them and enjoy a piece of automotive history from better days. I do it that way too. Saab as we knew it is and will remain history. Unfortunately.

Zsolt
Zsolt
9 years earlier

Only 17 times? Dear “kobimex”, you are only in the early stages of the disease! 😉

Aero 9-3
Aero 9-3
9 years earlier
Reply to  Zsolt

I'm out now ... do the weekend and don't look at the blog again until Monday. The soul must also be able to relax for once!

kobimex
kobimex
9 years earlier

I do not see that with the image as critical, because who gets so close to what's happening all the time in Sweden? This is just a sworn fanbase of madmen who every day felt 17 click on the blog, and thus are very close to the action. Incidentally, I'm already briefly before the nervous breakdown. From time to time then runs a message on Handelsblatt, but the image suffers in my view not so much. If the brand survives and new Saabs come on the market, you could take the marketing well in my view and even use for themselves and the brand.

With the above message I have hope again. That looked different this morning. Tom, free us finally. With the one sensational message! Then everything will be fine. Maybe.

Troll4ever
Troll4ever
9 years earlier

If the Phoenix platform is to be sold, it does mean that you no longer need it for the future. This, in turn, can mean two things: building just e-cars on a 08 / 15 basis, or bringing in the new major shareholder who joins NEVS.
For both variants, if they apply and occur, I cannot imagine that Saab AB will give up the naming rights again - and that's a good thing.

FRP
FRP
9 years earlier

Old Swede ... now ... with all this news I wonder how capable of suffering one can be. I don't think other brands (most of them) have such loyal followers who are so enthusiastic and empathetic.
For others it would say: I don't care if I buy the other brand in the group ...
Tom: Thanks for the news from NEVS

Gallix
Gallix
9 years earlier

Grünwald is right!
We live in the PLEMPLEM age.
Is the Swedes (& any Asians) maybe ”BAD” from the many FadÖl?
I thought, it can not get any worse.
What do you think, how long a brand, a product name endures so much.
The name SAAB has finally been ridiculed, ridiculed and mocked.
Image dismantled for eternity and synonymous with inability to excess.
Tom, in our personal Bullerbüe (you know) the Swedish flag is not only at half mast, but definitely AB!

Detlef Rudolf
Detlef Rudolf
9 years earlier
Reply to  Gallix

Actually, things are going in the right direction now. This took a little longer - but you shouldn't forget the really big obstacles (especially GM) and be happy that despite all the inadequacies at NEVS, there is a certain persistence with regard to the continuation of automobile production in Trollhättan.

In the PLEMPLEM age in particular, it has not become easier for one that has been run down by American “managers”
To get the brand back on its feet - in conjunction with a large Indian corporation like M&M, you could finally show how it can be done better and polish up the SAAB image again.

Other, now well-positioned manufacturers also had major times of crisis in the past - hardly any customer thinks about it these days.

Saabfan
Saabfan
9 years earlier

"Is that good or bad?"

The early sale of the Phoenix platform gives me puzzles. As it seems, NEVS is looking for a new shareholder and not a buyer. But the Phoenix platform has always been touted as a big future for NEVS.
Does Mahindra (as a new shareholder) want to move away from the electric car? Or is it going head over heels and NEVS wants to cannibalize the rest of what remains (Phoenix platform) and get rid of it?

What secretiveness. One can only hope that NEVS will make it clear once the negotiations are over, because if they continue, they will depend on "us" in the future as well.

Detlef Rudolf
Detlef Rudolf
9 years earlier
Reply to  Tom

The new platform will certainly also be used for future SAAB models - according to previous information, this platform will be used at SAAB in Trollhättan and at one of the negotiating partners in Asia.

The contract reserves the right to use the platform for production in Trollhättan.

Detlef Rudolf
Detlef Rudolf
9 years earlier

It seems to have arrived in court but much more background information.

In the last few days, all negotiating partners have clearly felt that time is running out and courts and SAAB AB are not joking.

One should now assume that NEVS as well as Mahindra and Dongfeng will agree on completing the contracts in the allotted period of time - this should really be the very last opportunity to secure the continued existence of SAAB as an automobile brand!

Mr. Nordmann
Mr. Nordmann
9 years earlier

Phew, currently not for the faint of heart.
Saab should move to Hollywood, that fits better ...

Aero 9-3
Aero 9-3
9 years earlier
Reply to  Mr. Nordmann

When will Kurt Wallander finally come to Trollhättan, to clean up this business thriller and to ensure clarity ??? 😉