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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:

NEVS announces 200 layoffs as it says Saab restart will 'take time'

For a fleeting moment a few weeks ago, the news from Saab-owner National Electric Vehicle Sweden appeared almost positive. The company had its reorganization plan approved (a day after it was denied), and the automaker was actually showing a real, running vehicle, albeit one with a top speed of 75 miles per hour. But those tiny crumbs of potential goodness have been swept away because NEVS has announced layoffs of as many as 200 factory employees in September "due to lack of work."
Workers probably shouldn't get too eager to return to the factory either, because company's "decision to re-start production will be further delayed" by an unspecified amount of time, NEVS says in a press release. To begin assembling cars again, the company needs to find long-term funding and a new majority owner. Those seem like two very steep hurdles for the embattled automaker to clear.
Despite not producing cars since May, NEVS still claims it's negotiating with a new owner, possibly Mahindra, but according to Reuters, the Swedish company owes about 400 million kronor ($56 million) to creditors. According to its layoff announcement, getting rid of these workers is one step in the business' reorganization plan to be presented on October 8. Scroll down to read its full release.

GM recalls 500K Chevy Camaros for ignition-switch defect

General Motors issued a recall for more than a half million Chevrolet Camaros on Friday morning because of an ignition-switch safety hazard that mirrors the one at the center of the company's current crisis.
The problem affects Camaro models from the 2010 to 2014 model years. Approximately 464,712 cars are impacted in the United States, and 511,528 overall in North America. GM will alter the Camaro key to a more standard design, and will notify car owners with a recall notice in the mail.
In an announcement, the company said the ignition switches on the Camaros are fundamentally different parts than the older ignition switches found on defective cars that are responsible for killing at least 13 people and causing 54 crashes.