1998 Saab 900 Se 2.0 Turbo Convertible on 2040-cars

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Spyker and Youngman sign deal, plan to build D8 SUV and Phoenix-based range

It appears Spyker is strengthen its ties and carmaking ability with Chinese carmaker Youngman. This comes in the wake of the brand's latest dealings with a $3 billion lawsuit against General Motors regarding the demise of Saab.
Youngman is reportedly investing €10,000,000 ($12.5M USD) for a 29.9-percent stake in the company. The shares are being sold for €0.05 (6.3 cents) each, representing a fully diluted share. Youngman has said it will not take on more than the 29.9-percent stake.
Additionally, Youngman will invest €25,000,000 ($31M) for the development of an all-new Spyker vehicle, called the D8 P2P, named for the Peking-to-Paris rally. The vehicle had been shown as a concept by Spyker previously, but things had been quiet since then. It appears Spyker will now build the uniquely styled D8 Concept shown above. The vehicle is to launch at the end of 2014 and carry a price of $250,000 per vehicle.

New Saab parent NEVS: we're not totally broke

The many fans of 1987's The Princess Bride will recall Billy Crystal's Miracle Max character optimistically referring to the protagonist Westley as "mostly dead." It looks like National Electric Vehicle Sweden (NEVS), the company that now owns the Saab brand, fits that description. Of course, Westley does end up surviving and getting the girl. NEVS put out a statement last week saying that, while it doesn't have the cash to pay off all of its outstanding debt (hey, who of us does?), it is "not insolvent" because its assets are greater than its debt. Its suppliers will get paid, but that NEVs "cannot say exactly when." NEVS, the partnership between a Chinese company and a Japanese investment firm that acquired the Saab name in 2012, restarted production at its Trollhattan plant in Sweden last year and had promised a vehicle line that would include a battery-electric version of the 9-3 sedan. Instead, NEVS stopped the production line that was only making about a half-dozen vehicles a day (the gas-powered, turbocharged 9-3) in May because it said shareholder Qingbo Investment Co. didn't provide the agreed-upon cash. NEVS now says it held positive talks with two manufacturers this summer, and that once funding is secured, it will rewrite its business plan with its new partners to resume production. The supplier that filed a bankruptcy petition is withdrawing it based on this new information, says NEVS. Saab made its first cars in 1947 and was eventually owned by General Motors before being sold to Spyker in 2010. Bankrupt by the end of 2011, Saab was acquired by NEVS the following year. Check out NEVS's most recent press release below. And have fun storming the castle. Information from Nevs Nevs hereby clarify that the company is not insolvent. The company does not have enough liquid cash as today to pay all outstanding debt but Nevs' assets are larger than its debt. Nevs today cannot say exactly when, but Nevs' suppliers will get paid. During the summer, the dialogues with the two major vehicle manufacturers have continued and developed in a positive direction. It is a thorough evaluation process that is still ongoing, and the discussions have not been finalized yet. After the funding is secured, and after that Nevs business plan is updated together with its new partners, Nevs will be able to make the decision on when the Trollhattan factory can resume its production.

Junkyard Gem: 1986 Saab 900 Turbo

The Saab 900 sold well in Colorado, and owners of these cars tend to hang onto them for decades. For those reasons, I still find 900s while making my rounds of the self-service wrecking yards in the Denver region. The turbocharged models tended to fail more quickly than their naturally-aspirated counterparts, though, so the 900 Turbo can be tough to find today. Here's a 1986 that took its final tow-truck ride into a Denver yard a couple of months back. The 900 received a makeover for the 1987 model year, so today's Junkyard Gem comes from the final year of the 900 with the endearingly 1960s face derived from its 99 predecessor. Most of these cars didn't chug along for quite as many miles as their Volvo 240 countrymen, but that may be attributable more to the differences in driving style between Volvo and Saab owners. The word TURBO had magical connotations during the 1980s, and so most turbocharged cars of the era boasted big, obvious badging. Red car interiors were all the rage during the 1980s and 1990s. Try to imagine the vivid bordellitude of this upholstery before it faded beneath the blazing Colorado sun. Was it a runner when it arrived here? We'll never know. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Born from jets, sure, though the original Saab jet was known as "the Flying Barrel" and wasn't especially graceful-looking. Featured Gallery Junked 1986 Saab 900 Turbo View 14 Photos Auto News Saab Automotive History