2006 Saab 9-3 2.0t Convertible 2-door 2.0l - California No Reserve on 2040-cars

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Saab tries [again] to emerge from bankruptcy

If we've learned one thing from watching The Walking Dead, it's that the only way to terminate a walker is with a swift and brutal blow to the brain. Sadly, no one has come along that's willing to do the gruesome deed to the stumbling shell that is Saab. The company's latest owner, National Electric Vehicle Sweden is trying, yet again, to crawl its way out of bankruptcy with a "composition proposal in order to exit the reorganization." That proposal, outlined in the attached press release, will see the majority of the company's many creditors receive full repayments. For 104 of the 573 creditors, all of whom have claims over 500,000 Swedish Krona (roughly $60,000), their claims will be reduced by 50 percent. If creditors approve the proposal, it'd provide "the conditions for completion of ongoing negotiations with two major OEMs," which the press release claims could come on as either a joint-venture partner in Trollhattan or a majority owner in the struggling company. We won't be holding our breath. Scroll down for the full press release from NEVS. Thursday, February 19, 2015 A composition to get Nevs out of reorganisation National Electric Vehicle Sweden AB, Nevs, provides unsecured creditors a composition proposal in order to exit the reorganisation. It creates the conditions for completion of ongoing negotiations with two major OEMs and the implementation of a new business plan together with partners and owners. Nevs' owners and management has noted the difficulty of completing this type of complex negotiations during a reorganisation and the risk premium it implies. The current negotiations, together with two major OEMs, are mainly focused on two tracks that are complementing each other. One is to form a technical joint venture company in Trollhattan and the other is to introduce a new majority owner in Nevs, with the plan of making Saab cars a global premium product. - The negotiations are progressing but we also see the complication of reaching an agreement when we are in a state of reorganisation. Our main owner has single-handedly financed the reorganisation and intends to get us out of it. In order for this to be possible financially, we need to reach a composition arrangement with the creditors, says Nevs CEO, Mattias Bergman. The composition proposal includes a composition of 50 percent for unsecured creditors on claims over 500'000 SEK.

NEVS Saab EV prototype on display, with top speed of just 75 mph

National Electric Vehicle Sweden, the Saab-owning Swedish holding company that is in turn owned by Chinese investors, has some problems (i.e., no cash). But that isn't stopping NEVS from showing off a prototype Saab 9-3 Electric Vehicle this week. But wait, you might be saying, didn't NEVS already start production of a 9-3 EV? Yes, indeed, and the vehicle displayed this week was indeed built at the Saab plant in Trollhattan in May as one of those early pilot builds. A modified Saab 9-3 Aero Sedan, the EV has had the lithium-ion battery pack jammed under the floor, so all of the cargo and passenger space of the gas-powered 9-3 remains available. "The starting point for our development of the Electric Vehicle project was to maintain all the good attributes and characteristics," said NEVS' vice president of engineering and product development, Stig Nodin in a statement. You can find the press release below. The li-ion pack comes from Beijing National Battery Technology (which is owned by the same company that owns NEVS) and can offer a range of about 120 miles, NEVS says. The prototype also has a 100-kW electric motor that offers 140 horsepower that provides a 0-60 miles per hour time of 10 seconds and a top speed of just 75 miles per hour. That's unlikely to be fast enough to outrun Saab's creditors, but NEVS says that the prototype is here "to serve as a reference for specification of coming production model(s)," so let's hope the speed number can be increased while the range at least stays the same. Today Nevs presented the Saab 9-3 Electric Vehicle as designed and produced as part of a prototype series in Trollhattan. The car is a modified Saab 9-3 Aero Sedan where the batteries are placed under the floor, keeping the full interior space as well as the luggage compartment intact. With that, the Saab 9-3 EV is just as practical as the Saab 9-3 Aero with gasoline engine. The Saab 9-3's famous driving-experience is of course preserved in the EV, helped by its low center of gravity and a 50/50 weight distribution. "We are happy to present the result of Nevs engineering into a real Saab EV product. The Saab cars' well-known performance and safety is maintained and we foresee a very good product for the market. When we developed the Saab 9-3 Aero Sedan Model Year 14, we focused on enhancing the driving experience, safety and quality.

The Saab 9-3 that never was finally shows up

Looking back on the life and [slow and painful] death of Saab, it's impossible to not stop and think of what might have been with the quirky Swedish automaker. As it turns out, SaabsUnited has decided to shed some light on what the company's future might have looked like, including some images and information that include full-scale mockups of the 9-3 Phoenix, which you see above.
In its waning years, Saab's lead designer Jason Castriota was working feverishly to deliver new products that built on the heritage of the brand while doing so at a lower cost and in a shorter time period than previous models. In the end, though, it sounds like the earliest that we could have seen any of these plans come to fruition was 2014. In addition to hatchback and convertible 9-3 variants, Castriota also created the Sonnett - a sporty-looking 2+2 that never made it past the design study phase.
Regardless of whether you're a diehard fan of the brand or if you were just pulling for the underdog, you'll want to head on over to SaabsUnited to check out a little more of what the future could have held for Saab.