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Mahindra buying majority stake in NEVS, Saab saved again?

National Electric Vehicle Sweden (NEVS), owner of Saab, might not be dead yet, because the company is reportedly close to having a new owner with deeper pockets in near future. The declaration comes from the business's latest request to prolong its reorganization and includes the claim that NEVS has a signed letter of intent from an unnamed Asian automaker to take majority ownership of the beleaguered brand. While NEVS doesn't specifically name this potential, future owner in its filing, Automotive News Europe cites a SaabsUnited story proclaiming that the suitor is none other than Indian automaker Mahindra and Mahindra, a development that would confirm months of rumors. The Swedish automaker is reportedly just waiting for the majority investment to be finalized before making an official announcement, and the whole purchase could be complete by February. NEVS also claims that it's still negotiating with a separate, unnamed Asian automaker on a joint venture to co-develop new vehicles. Assuming the deal goes through, the new owner could regain the rights to the Saab brand, too. According to ANE, negotiations are underway with the Saab AB aerospace business to be able to use the trademark again. NEVS lost that right when it filed for reorganization. Mahindra has shown interest in owning Saab for quite some time. It was reportedly among the final three bidders for the brand in 2012, and the Indian automaker was allegedly eyeing a stake in NEVS as far back as June. Scroll down to read the brief press release from NEVS about the extended reorganization, and the full document can be viewed in PDF format, here. Nevs applies for prolonged reorganization Monday, December 01, 2014 National Electric Vehicle Sweden, Nevs, has today submitted an application to the District Court in Vanersborg, requesting that the company reorganisation shall continue for an additional time period of three months. The administrator Lars Eric Gustafsson expresses the rationale for why Nevs should be granted an extended reorganization in this enclosed statement.

Petrolicious keeps our love of the Saab Sonett aflame

German auto designs lean toward function and purpose. Italian designers deliver passion and beauty. The Brits, majesty. American cars, brashness and authority. If you want a funky design, though, you go to Sweden. The land of cheap, do-it-yourself furniture and delicious meatballs knows a thing or six about style and design, and while that character is only now reemerging thanks to a certain string of Volvo concepts, it use to be that Saab was the authority on penning some of the industry's more unique designs.
Take the beautiful Sonett for example - a small coupe whose appearance is a funky mishmash of a Porsche 911 and a Bugeyed Sprite with just a hint of a Citroën DS (it's that convex rear window). It's a positively striking car, made more unique by its two-stroke, three-cylinder powertrain and four-on-the-tree manual transmission. With just 70 horsepower hauling about 1,500 pounds of Swedish style, the Sonett strikes us as an ideal alternative to some of the English sports cars of its day, particularly for those that are looking for something beyond your average MG or Triumph.
For Glenn Roberts, the Sonett was a part of his childhood. His family owned example was originally a special-order item by his parents in 1967. He bought the car from them 13 years later and has never looked back, completing a restoration in 2004. With a story like that, it's not surprising that Roberts and his silver Sonett are the most recent pairing to get some attention from Petrolicious.

Son surprises mom with her dream car, a 1973 Saab 99

Often, it feels like the news is just a never-ending stream of one depressing headline after another. It can be so liberating to see something positive and uplifting every once in a while. Just look at the ecstatic expression on this mother's face after receiving her dream car from her son. Mom has some seriously quirky taste too: she isn't after a muscle car or a two-seat droptop; instead, it's a 1973 Saab 99 EMS in a very '70s shade of copper at the top of her wish list. According to the video, it took her son about a year to track down this hunk of Swedish steel and save up the money to purchase it. Though, judging from his mom's reaction, it was worth every penny. She puts together what's going on with the Saab pretty quickly and immediately starts swearing at her son – out of love, of course. If you're feeling a little blue, consider this a much-needed pick-me-up. Watching the unbridled joy of someone getting something that they always wanted just feels wonderful.