2009 Saab 9-3 2.0t, Only 45k Miles, Led Lights on 2040-cars

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National Electric Vehicle stops Saab 9-3 production amidst financing woes

It seems that quirky, Swedish automaker Saab might be on life support yet again. Its owner, National Electric Vehicle Sweden, has announced that it's reducing its workforce and temporarily halting production of the 9-3 due to financial problems. NEVS was only building six cars a day, anyway.
The company put out a press release admitting its economic woes, but it still appeared hopeful. NEVS claims it's developing "a new platform on the Phoenix architecture," and it has a frame agreement with an international automotive OEM. It didn't give any specific details about either one of these assertions though. According to The Wall Street Journal, NEVS needs the partnership to lower development costs in order to stay afloat. Saab spokesperson Mikael Ostlund told Autoblog in an email that the stop in production of the 9-3 in Trollhättan would last four weeks.
NEVS says it's in negotiation to sell a portion of the company to an automotive company. Its current monetary woes are caused by shareholder Qingbo Investment Company not financing the company as agreed. "We plan to have the results of the discussions at latest during June," said Ostlund.

New owners of Saab don't get to use the name

Saab won't be revived as a Chinese-backed electric car brand. Aerospace and defense company Saab AB has declined to let the new owners of the dormant automaker's old designs and factory use the name on new cars, Automotive News reports. It's a blow to fans of the Swedish brand, who hoped the name would be revived on new vehicles coming out of the same factory as models like the 99 Turbo. National Electric Vehicle Sweden, known as NEVS, bought major assets of the Saab operation in 2012 following former parent Spyker's decision to liquidate the company in December 2011. This not only included the Trollhattan assembly plant in Sweden, but the rights to the Saab 9-3 and the platform of its successor. NEVS built some new 9-3s using leftover parts and powered by the old 2.0-liter turbo engines, with the intent to raise money to produce new electric vehicles for Europe and China – and to use the Saab name. When General Motors bought all of Saab Automobile in 2000, it used the name under license from the Saab AB. That permission was then passed to Spyker in 2010 and later NEVS, albeit without the griffin logo. But when NEVS sought creditor protection in 2014, Saab AB revoked the naming rights. Following reorganization, NEVS in August announced a deal with Dongfeng Motor Corp. to develop a new lineup of electric vehicles, which was revealed in December to include five new models by 2018, some assembled in China by 2020 – the first of which being an EV version of the old 9-3. However, Saab AB told Automotive News that discussions have ended regarding the use of the Saab name on these vehicles. NEVS owner Kai Johan Jiang told a Swedish radio station the company will find a new name to market the cars under when they go on sale. It's similar to what happened to SAIC when it purchased vehicle technology from bankrupt British carmaker MG Rover. While it had the tooling to essentially make the Rover 75, the brand name at the time belonged to BMW and barred SAIC from using it, so the Roewe brand was created in China. It's unclear why talks broke down and also where NEVS will get a new name (there aren't nicer ways to spell Saab, and it was originally an acronym, anyway). Will Saab AB attach its name to another line of cars? Probably not. What it does mean, however, is that Saab fans have to cling tighter to their old cars now. Perhaps that's for the best. Related Video:

Court extends Saab reorganization bid until end of November

Saab parent company National Electric Vehicle Sweden refuses to go down without a fight. After a recent trip to court, the company is emerging with an extension on its reorganization until November 29. According to Europe Online Magazine, there's also an appointed committee of creditors and union representatives to monitor NEVS' restructuring process.
NEVS still isn't giving up hope of saving itself, and the company claims there are has two potential strategies for getting back on its feet. The main plan is to "finalize the negotiations with the two Asian automotive manufacturers," according to a press release. Those firms still aren't identified, but Mahindra may be involved. According to Europe Online Magazine, one of the businesses is looking to take partial ownership of NEVS, and the other is considering some sort of cooperation with it.
If that plan fails, the second option is to take advantage of the factory and become a contract manufacturer.