80 days were enough for Jules Verne, who sent his hero Phileas Fogg around the world. One more day, 81 days, is the time frame NEVS was given yesterday.
The package consists of 21 days - during which the haircut becomes legally binding - and 60 days until 50% of the claims are to be serviced. Then between € 16 and 17 million must flow to the creditors. Money that has not yet been in the NEVS cash register. There are conditions that ensure that everything runs as it is in the interests of the creditors in the coming weeks. The representatives of the state praised the company yesterday in court as reliable and at the same time put the previous administrator aside to ensure that it stays that way.
81 days could be enough if negotiations are well advanced and there are only subtleties to settle to complete an international deal. You are too short if you are stuck in an embryonic stage.
NEVS can be compared to a little man who has bought himself a nice, new suit. Now he realizes that he bought a few sizes too big and no matter how he fidgets, he cannot fill in the suit. Contract manufacturing, external development, the production of spare parts. These are all marginal notes that are not enough to fill the huge Saab factory area and run sustainable business. NEVS fidgets, trapped in a suit that is far too big.
Even if NEVS promised to invest billions of dollars (SEK) yesterday through potential loans from a state-owned bank in China and a development partnership, these are only small parts in a larger puzzle. Maybe state, Chinese money comes to Trollhättan. Because of political reasons.
Maybe NEVS will realize the development partnership. It is based on a pilot project based on the Phoenix platform. A hope for hope, with the option of later development of series vehicles. Not more. Contracts with the new partner have not yet been signed, but should be in April. Says NEVS. You don't mention a name behind it.
These are side-scenes, if you do not want to lose sight of the big picture. The company in Stallbacka will only be stable and sustainable through a radical cure.
That got through in court yesterday when managing director Bergman announced that a change of ownership will only take place if the problem with the trademark rights has been successfully resolved. Which is where we are.
The true core of the NEVS mission is Saab. Only then will money in the coffers, only so can complete the adventure with a profit. Without the Saab trademark rights nothing will come to the happy final. There will be no new, strong major shareholder who could re-form a living organism out of the plant. The key to survival is not banks from China, not development partnerships. It is located at the Saab AB. That's the bitter truth for Bergman and Kai Johan Jiang.
Will NEVS survive, is that good for the Saab brand? A question that readers keep asking. I find it difficult to develop sympathy for NEVS. I don't see a workable story, nor do I see any reasons why one could be successful in the long term. There will only be a continuation of the Saab story if the brand name returns to Trollhättan. It only comes home when the structures at NEVS change completely.
81 days is not much time in that way. You are the countdown that is on. The deadline in which NEVS must deliver. Signatures, partners, money. That is the result of yesterday.