2004 Saab 9.3 Arc Convertible With Only 35k Original Miles! on 2040-cars

Auto blog

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.

Saab's Victor Muller wanted to nix Griffin, return to airplane emblem

According to Just-Auto.com Victor Muller wasn't a fan of the Saab Griffin logo. The executive was quoted as saying he wanted to "abolish" the Griffin logo and return to the airplane emblem. Muller made it clear that if he'd had his way, the propeller would have replaced the Griffin across the Saab lineup long ago.
National Electric Vehicle Sweden, the company that recently bought Saab, was forced to abandon the Griffin logo due to the fact that the emblem is still used by truck manufacturer Scania. The manufacturer is reportedly concerned about potential Chinese counterfeiting - NEVS is owned by Youngman, a Chinese automaker - though it's unclear how that relationship would lead to illegal copies.
Either way, NEVS has said the loss of the Griffin logo isn't that important to the company so long as it can continue to build on the Saab name. Muller, meanwhile, said he wishes NEVS luck in the company's electric-vehicle endeavor, but that he doesn't understand its new business model.

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.