2000 Saab 9-3 Convertible 5speed 2liter 4cylinder Turbo Coldairconditioning 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.

NEVS' reorganization plan approved after all?

What a difference a day makes. Thursday, we reported that current Saab parent National Electric Vehicle Sweden had its application for creditor protection denied by the Swedish court for being "vague and completely undocumented." But NEVS was back in court on Friday, and this time the application was granted. However, the story continued to get weirder as defense contractor Saab AB allegedly revoked NEVS' rights to use the Saab name.
NEVS did put out a brief press release confirming the court decision saying: "The District court of Vänersborg, Sweden, today August 29 approved the application for reorganization from National Electric Vehicle Sweden AB." The company allegedly has over 90 creditors, and according to Reuters, it owes them roughly 400 million Swedish krona ($57.56 million). The business says that it is in negotiations with two, unnamed companies to get additional funding.
Also, according to Reuters, Saab AB, best known for making fighter planes, has revoked NEVS' rights to the Saab brand name because the company's application for creditor protection gave the defense contractor that right. When NEVS bought Saab, it only acquired the automaker's physical assets, and had to negotiate for the rights to use the name.

Saab 9-3 production has restarted

If you're one of the small cadre of Saab drivers, first of all, kudos to you. Because as Top Gear pointed out, Saab drivers are among the most intellectual drivers out there. Secondly, we've got good news for you, because the 9-3 has officially resumed production at the Trollhättan plant in Sweden.
For those of you who may not have followed the story, a quick refresher: Founded in 1947, Saab Automobile AB was an independent automaker until 1989 when General Motors began the decade-long process acquiring it. Unable to make it profitable, GM sold Saab to Spyker in 2010, but that Dutch automaker proved unable to make a go of it, either, and finally shut it down a year later. Much of Saab's assets were acquired by National Electric Vehicle Sweden, which in turn is partially owned by the Chinese city of Qingdao, which pledged to get production back online by the end of the year.
NEVS has apparently made good on its promise, bringing 600 workers back to the factory to resume production of the 9-3 much as it was when a workforce of 3,500 labored on it and its stablemates prior to the bankruptcy. The reborn 9-3 will be sold in Sweden and in China, with an electric version to bring some other updates sometime next year.