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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 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.

Saab didn't want this electric, 99-like delivery van from the 1970s

National Electric Vehicle Sweden (NEVS) purchased the remains of Saab in 2012 to turn it into an electric-only brand. While its vast heritage is turbocharged and rooted in racing, Saab didn't shy away from dabbling in battery-powered drivetrains, and there's an experimental mail delivery van in its official museum to prove it. The name Saab in the last paragraph should be followed by an asterisk. The prototype kind of looks like a 99 when viewed from the front, and it wears the soccer ball-style alloy wheels seen on several of the brand's models during the 1970s, but the museum's curator told Autoblog it was built in Linkoping, Sweden, by the company's defense and plane-making division. It's certainly a Saab, but not quite the kind you're likely thinking of. Engineers began the project in the early 1970s, at about the same time archrival Volvo launched its own experiments in the field of electrification. The idea was to create an electric, short-range distribution van that could be used by Sweden's postal service, for example. Two prototypes were built in 1975 and 1976, including the example in the museum, and each had a low-speed driving range of about 40 miles. Additional technical specifications are lost to history, partly because Saab's car-building division in Trollhattan -- the folks that developed the 99 and the 900, among others -- didn't like the van at all and wanted nothing to do with it. Saab electric van prototype View 2 Photos We peeked inside and under it and spotted a bulky, lead-acid battery pack integrated into a tray that could be pulled out from the back after flipping up the panel onto which part of the rear bumper was mounted. This layout was relatively common in early electric prototypes, like the Bus that Volkswagen developed in 1972 and tested in select German cities. Recharging the battery pack took hours, so swapping it out was considered the more practical alternative. Period documents and images confirm the electronics were mounted under the hood. Saab made two electric prototypes, including one it fitted with front-end parts like headlights (complete with wipers), turn signals, and a plastic grille from a 99. The second wore round headlights, bullet-shaped turn signals, and looked more like something you'd see in an episode of "Scooby Doo" than what you'd find in a Saab showroom. The van's resemblance to the 99 was purely artificial; it was its own thing, on its own chassis.