STILL Sweden’s worst kept secret – Saab being sold to NEVS, going electric

Companies/People always do big, potentially controversial news releases on a Friday. The exceptions are those who have to do them on the day the news is relevant (e.g. Saab’s bankruptcy on a Monday last year).

Perhaps today we’ll hear what many have ‘known’ for a few weeks now – that Saab will indeed be sold to National Electric Vehicle Sweden. That link, by the way, is to all the stuff I wrote last time we believed an announcement was imminent. Everything there is still relevant today, with a few more points of curiosity added.

  • Who are NEVS exactly and what do they plan to do with Saab?
  • What product will come first, and when?
  • Given the blowtorch that was applied to both Koenigsegg Group and Spyker during their proposed and actual ownership periods, will the Swedish press subject NEVS to the same damning attention with regard to their plans and their finances?
  • Will the press also blowtorch the administrators to find out why what is understood to be a smaller offer from NEVS was given preference over a substantially larger offer from Youngman (and presumably, Mahindra too) when the administrators’ job is to get the best return for creditors?
  • If it isn’t part of the sale package, then what will happen with Saab parts?

I don’t know for sure whether or not the announcement will be made today, but it’ll be interesting to see if it is, and if so, what they say.

I remain sceptical about an all-electric car company (even an electric/hybrid car company) being based in Sweden but am very open to being convinced that it can work. More than anything, I’m just happy that friends in Trollhattan will have something ambitious and worthwhile to work on.

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12 Comments

  1. At this point, any SAAB is better than no SAAB. I am really curious at why the administrators have chosen NEVS over the others. SweGov involved in this decision perhaps?

  2. Let’s wait and see, wall of silence from administrators (quite properly) is at odds with public ‘leaks’ and theories. If NEVS, we have to wait and see what that means in practice, who is ‘really’behond the consortium and their experience, what is happening to Saab Parts etc etc

  3. Hi Swade,

    frankly do you think that Saab is dead forever ?
    Many people think so and personnaly don’t know what to think about it .
    It would be good if NEVS would give a press conference .

    1. Lets hope for the best Jeff.
      The doo need to hold a press conference asap as to set things straight. As long as I don’t have to see the recievers or Mauds smug grins I’m happy.

      Au Santé/Tom

    2. We all want a press conference, but when a deal is not signed and fully complete, a press conference will have to wait.

  4. NEVS bid for Saab Automobile AB, Tools and Powertrain= 1.8 Billion. Saab Parts is worth 2.2
    2.2 + 1.8= 4.0… the same as Youngmans bid for all companies… NEVS had to up their bid from 1.5 to 1.8 so that the recievers wouldn’t have to shame themselves with any wrong doings.

    Politics politics politics

    Lets hope for the best! … And a new Sonett to top that 😉

    Cheers/Tom

  5. I like. Tesla is goign strong stateside, but they, like all other US car companies don’t understand the European Market. A European electric car maker is needed and I think Saab are just about the best choice for it. Me iz verry ‘appy.

  6. I wish nothing but the best for the good folks who have worked for SAAB, and truly hope they get their jobs back…SOON.

    As someone who has had TWO differnet companies go belly-up on him…and spent 10 years getting back to a decent paying job…I know the pain of that…but an all electric, or even a Hybrid SAAB, will not be in my future…unless it has a useable range of AT LEAST 400 miles (654km)…a 0-60 mph time of under 6.5 seconds…is AWD…and has a manual trans.

    And if it is ALL electric…it had better be able to be FULLY recharged in under 10 minutes…or forget it. Yes… I know…that is not possible right now…exactly my point.

    1. I suppose there is a price tag element to your wish list also, but there was a modified Mini hybrid used as a demonstration for the purpose of selling wheel motors… the spec was 640bhp, insane torque (had to be limited), no tranny at all (to wear out), no friction brakes, and AWD… 0-60 of 4.5s and 250 mile range, 1000 mile range burning fuel…

      Volvo was exploring the same technology for the Recharge, and I believe Saab was involved in the initial project (there is a press release), as it was a multi-organizational effort in Sweden.

      One thing with an electric motor is there is tons of low end torque – the curve is very flat, even more-so than a turbo. Very saaby indeed!

      I am looking at all this hopefully/optimistically. I am skeptical re the realism of the business plan in the short term, but we will see. Perhaps there is sufficient VC this time to fund it + perhaps it will be truly run like a startup. At this point, short of BMW or some similarly established company putting Saab under it’s wing a la Mini, I think this may be the better option.

  7. Not taking the best offer ? Well that is what was done in the US when SAAB USA sold off . It was more like a yard sale , 1st come 1st serve . There was no bidding . I tried to talk to the law office handiling the sale and never did they anwser the phone , or call back on several attempts . Now SAAB parts USA is a mess , were out of a boat load of parts . In the US they are a headless chicken , just a sad mess . Rant done , sorry but I just had to post what I see every day .

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